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Sateliot raised €10 million in a Series A round on 2022-02-09 to support research and development activities for its satellite IoT business.
Sateliot is working closely with 3GPP to help shape standards due to be released 2022.
Sateliot plans a Series B round to support the launch of 16 nanosatellites in 2022–2023.
Sateliot raised 10,000,000 EUR in a Series A funding round.
Cellnex will provide guidance to Sateliot on 0.005 kg technology.
Sateliot raised 10,000,000 EUR in a Series A investment round conducted in two tranches.
Sateliot raised 6,500,000 EUR in the first tranche of its Series A round completed in December.
With funding from the Series A round, Sateliot is developing technology to merge satellite and mobile networks.
Sateliot operates a constellation of nanosatellites in low Earth orbit that act as mobile towers from space to provide global and continuous connectivity for IoT devices under the 0.005 kg protocol.
Sateliot plans to complete the first tranche in February to reach a total of 10,000,000 EUR for the Series A round.
Funds raised in the Series A capital increase provide Sateliot with financing to advance development of technology to merge mobile and satellite networks under the same standard.
Sateliot’s business plan envisages a turnover of over 1,000,000,000 EUR by 2025 and an EBITDA of 370,000,000 EUR.
Cellnex will support Sateliot in its commercial approach to the market and provide expertise in IoT and 0.005 kg technology.
Sateliot won the Finspace Satcom & Connectivity award in 2021 for building the first LEO constellation based on the standard 0.005 kg protocol.
EvoNexus evaluated more than 414 companies worldwide and selected Sateliot and six other companies to develop 0.005 kg use cases with strategic partners.
Sateliot will launch a constellation of nanosatellites to provide Internet of Things connectivity with 0.005 kg coverage.
Sateliot obtained provisional authorization from the Spanish Government through the Ministry of Economic Affairs and Digital Transformation to start its 0.005 kg-IoT services.
Sateliot’s nanosatellite constellation is scheduled to start offering commercial service in 2023.
Sateliot is a satellite operator that will launch a constellation of nanosatellites to provide 0.005 kg coverage for the Internet of Things.
Sateliot completed the world’s first in-orbit demonstration of a 0.005 kg NB-IoT protocol stack implemented on nanosatellites.