Australian Startup HEO Secures $25M for Satellite Imagery Expansion
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Australian Startup HEO Secures $25M for Satellite Imagery Expansion
- HEO, an Australian space intelligence company, recently raised US$25 million in Series B funding to expand its non-Earth imaging (NEI) network.
- This funding round, led by Beaten Zone Venture Partners and announced on September 21, 2026, will enable HEO to extend its imaging capabilities into geostationary orbit (GEO).
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HEO, founded in 2016, specializes in “flyby” satellite imagery, using cameras and sensors on one satellite to photograph other satellites and spacecraft in orbit. This technique provides a more comprehensive view compared to relying solely on Earth-based tracking. The company’s non-Earth imaging (NEI) technology offers visual intelligence on satellites to governments and operators.
The US$25 million Series B funding round, which was publicly announced on September 21, 2026, was led by Beaten Zone Venture Partners. Additional participants included Australia’s National Reconstruction Fund Corporation (NRFC), DCode Capital, Wunala Capital, and existing investors Airtree and Salus Ventures. This investment brings HEO’s total funding to over $37 million (AUD).
A primary goal for this new capital is to expand HEO’s imaging network into geostationary orbit (GEO), which is approximately 36,000 kilometers above Earth and hosts critical telecommunications, weather, and national security satellites. HEO has already scheduled its first two GEO launches for later in 2026, with plans for reliable and repeatable GEO imaging services to commence in 2027. The company aims to monitor 90% of all space objects in orbit.
HEO’s technology addresses a growing need for space domain awareness as orbital environments become increasingly congested and valuable. Their software platform autonomously identifies opportunities for in-orbit satellites to capture high-resolution imagery of other space objects, providing insights into their condition and activity. HEO has secured contracts with international governments, including a multi-year agreement with the U.S. National Reconnaissance Office (NRO) in February 2026, and a selection by the Australian Department of Defence in July 2025 to provide sensors for a new sovereign low-Earth orbit constellation.