Sateliot has recently secured a €6 million investment through a high-growth enterprise programme, raising its total funding over the past year to €13.5 million. This influx of capital marks a significant stride towards Sateliot’s ambitious goal of a full commercial launch.
Sateliot, creator of LEO satellite constellation based on 5G standard, is aiming to connect IoT through 5G communications to revolutionise the way IoT devices connect globally. The company is in the advanced stages of launching its first such LEO satellite constellation. This technology will enable standard commercial cellular NB-IoT non-terrestrial network devices to connect directly from space, representing an unprecedented integration of terrestrial cellular telecommunications with satellite connectivity. The potential of this technology is immense, especially considering its capability to connect devices costing under $5, thus opening up new possibilities for IoT in remote and underserved areas.
With the launch of four new satellites slated for 2024, Sateliot is poised for a significant expansion. This development is part of its trajectory towards initiating commercial operations. The recent funding from Banco Santander, combined with a €2.5 million participatory loan from Avança and €5 million from a convertible note, has collectively contributed to the €13.5 million raised in under a year.
Sateliot’s growth is further bolstered by strategic partnerships with key industry players. Indra and Cellnex are notable shareholders, with 10.5% and 3.5% stakes respectively, and Sepides holds approximately 5% of the company.
Jaume Sanpera, CEO and Co-founder of Sateliot, commented on the investment: “The completion of these three operations demonstrates the confidence that top-tier banks, regional public administrations, and diverse investment groups have in our vision. These strategic partnerships are a testament to our leading role in developing the first-ever 5G-IoT constellation.”
In a collaborative effort to extend 5G connectivity into space, Sateliot partnered with Telefónica, a leading Spanish telecommunications firm, in July 2023. This collaboration, involving Telefónica Tech and Telefónica Global Solutions, achieved a milestone by successfully testing the extension of satellite coverage to Telefónica’s cellular network through standard GSMA roaming. This was accomplished using a regular SIM card on an IoT cellular device, seamlessly transitioning to the Sateliot network.
Sateliot’s next strategic step involves initiating a Series B funding round to finance the further expansion of its satellite constellation. This ambitious plan includes deploying 250 nanosatellites under the 5G standard, with an additional 64 satellites expected to be launched within the next 18 months. The company has already secured significant agreements with global telecommunications operators and companies, leading to a backlog of binding orders worth over €150 million.
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