May 26, 2026 – 5.59pmHEO, a venture capital-backed Aussie start-up whose satellite identification technology has piqued the CIA’s interest, has embarked on its next capital raising mission.Street Talk understands HEO, co-founded by University of NSW PhD recipients Will Crowe and Hiranya Jayakody and backed by Airtree Ventures, will shortly close its Series B funding round.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Airtree-backed space tech start-up HEO on launchpad for $30m raise
The start-up, which is backed by Airtree Ventures, Y Combinator and UNSW, has held discussions with the Australian government’s National Reconstruction Fund.
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