Barcelona, San Diego – Sateliot, the corporate launching the primary constellation of low-earth orbit (LEO) nanosatellites offering 5G protection for IoT (Web of Issues), has secured €6 million in funding from Banco Santander.
This monetary backing from Banco Santander will allow Sateliot to speed up the event of its expertise and the deployment of its satellite tv for pc constellation. In 2024, the corporate is poised for important development with the launch of 4 new satellites, marking the start of its industrial section.
With this transaction, Banco Santander reaffirms its dedication to the expansion and digitization of corporations and the promotion of innovation by means of its Progress program, significantly with the help of Santander Company & Funding Banking (Santander CIB).
Monetary Power
This funding and two different latest capital injections totaling €13.5 million in lower than a yr solidify Sateliot’s monetary place. One is a participatory mortgage of €2.5 million granted simply two weeks in the past by the general public firm Avança. As well as, there are additionally €5 million from the convertible be aware issued by the corporate.
Jaume Sanpera, CEO and co-founder of Sateliot, states, “The completion of those three operations demonstrates the boldness that top-tier banks, regional public administrations, and different teams resembling enterprise capital, household workplaces, or enterprise angels have positioned in us. With all of them, we’ve created a strategic partnership that reinforces our management within the first ever 5G-IoT constellation.”
This monetary energy permits Sateliot to method 2024 with the required stability to execute its enterprise technique, sending a powerful message of confidence to the market. Sateliot has Indra and Cellnex as industrial companions, holding 10.5 p.c and three.5 p.c possession, respectively. Moreover, Sepides holds roughly 5 p.c of the capital.
Sequence B
Sateliot’s subsequent strategic transfer might be initiating a Sequence B funding. It will finance the subsequent section of the satellite tv for pc constellation comprising 250 nanosatellites deployed underneath the 5G commonplace, launching a further 64 over the subsequent 18 months. Sateliot has already secured agreements with world telecommunications operators and firms within the sector, boosting a binding orders backlog of over €150 million.
About Sateliot
Sateliot is launching the primary LEO satellite tv for pc constellation based mostly on the 5G commonplace, permitting unmodified industrial mobile NB-IoT NTN gadgets to attach from area. It’s the first time in historical past that terrestrial mobile telecommunications seamlessly merged with satellite tv for pc connectivity, and Sateliot is main this revolution. Sateliot’s cost-effective expertise and the power to make use of low-cost industrial gadgets (underneath $5) to hook up with satellites opens up countless potentialities within the untapped market of huge IoT in distant areas. Sateliot’s mission has a worldwide influence: to make IoT connectivity obtainable in all places and for everybody.
The corporate was based in 2018, and it has already constructed up a gross sales pipeline of greater than €1 billion on corporations with a diversified vary of use instances and geographies. It was based by a gaggle of seasoned entrepreneurs with in depth telecom and satellite tv for pc expertise expertise.