HEO designs and manufactures satellite-mounted cameras and software that can photograph and gather intelligence from space objects, including satellites and debris – a field known as Non-Earth Imaging or NEI.
HEO specialises in capturing images of passing satellites in orbit using its network of third-party and HEO-manufactured cameras mounted on satellites. Its proprietary AI-enabled software platform directs the cameras and then stitches together multiple images to create a detailed composite picture showing the conditions and characteristics of a satellite.
Global demand for space monitoring is growing as the number of satellites orbiting the Earth continues to increase, and HEO’s technology edge coupled with NRFC investment will make the company a globally dominant player in the NEI space.
“HEO has turned Australian research to commercial and national advantage, and we are proud to be investing in an Australian company that is manufacturing hardware and developing powerful and innovative software onshore,” according to NRFC CEO David Gall.
“Space is an increasingly contested and complex environment of great strategic importance to Australia’s national security.
“The NRFC’s investment will enable HEO to monitor 90 per cent of space objects of interest to Australian and allied defence and intelligence agencies, shoring up a critical sovereign defence capability for the nation.”
NRFC funding will enable HEO to expand its NEI coverage into Geostationary Earth Orbit and within Low Earth Orbit.
It will also enable the company to expand its analytics product, build its go-to-market team, and deliver its first software product for commercial satellite constellation operators.
HEO currently employs 36 people in Australia and as part of its expansion, expects to grow its local workforce to 85 skilled technological and advanced manufacturing roles by 2028.
“This investment is a loud signal for our allied government customers that Australia is supporting its industrial base to build unique and critical asymmetric capability. With this support, we're scaling our sensor network and software into geostationary orbit right here in Australia, at the pace our allies require,” according to HEO CEO Dr. William Crowe.
HEO’s world-leading technology was spun out of research carried out by founders Dr. Hiranya Jarakody and Dr. Will Crowe at the University of New South Wales and the company now brings a range of NEI products to the global market.
HEO’s customers can buy pre-existing images of satellites from the company’s Inspect platform, book custom satellite inspections, contract HEO to analyse NEI, or purchase its Australian-made cameras to be mounted on customers’ own satellites.
HEO’s customers are primarily allied government agencies including the Japanese Government, the Australian Department of Defence and the U.S. National Reconnaissance Office (NRO) with whom they recently secured a multi-year, seven-figure contract. It also monitors commercial satellites for repair and recovery for non-defence customers including Astroscale and BULL Co.
“NRFC's investment lets us build on the sensors and software we've already proven in orbit and grow our advanced manufacturing and analytics capability to meet demand from allied governments and commercial operators,” according to HEO CTO Dr. Hiranya Jarakody.
“It reflects confidence in both the market opportunity and Australia's ability to lead in this part of the space economy.”
The NRFC’s $10 million investment is part of a $37 million AUD Series B funding round led by Beaten Zone Venture Partners. Other investors in this round include Ten13, Airtree Ventures, Salus Ventures, DCode Capital, Deepwater, Paspalis, UNSW, Dumm Capital, Wunala Capital, as well as a number of angel investors including Vu Tran and SpaceX alumni.
Want to see more stories from trusted news sources?Make Space Connect a preferred news source on Google.