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 know-how and the deployment of its satellite tv for pc constellation. In 2024, the corporate is poised for important progress with the launch of 4 new satellites, marking the start of its business part.

With this transaction, Banco Santander reaffirms its dedication to the expansion and digitization of firms and the promotion of innovation by its Development program, notably with the assist 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 12 months 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 word 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 reminiscent of enterprise capital, household places of work, or enterprise angels have positioned in us. With all of them, we now have created a strategic partnership that reinforces our management within the first ever 5G-IoT constellation.”

This monetary power permits Sateliot to strategy 2024 with the required stability to execute its enterprise technique, sending a robust 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.

Collection B

Sateliot’s subsequent strategic transfer shall be initiating a Collection B funding. It will finance the following part of the satellite tv for pc constellation comprising 250 nanosatellites deployed beneath the 5G customary, launching a further 64 over the following 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 primarily based on the 5G customary, permitting unmodified business mobile NB-IoT NTN units to attach from house. 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 know-how and the flexibility to make use of low-cost business units (beneath $5) to connect with satellites opens up limitless potentialities within the untapped market of huge IoT in distant areas. Sateliot’s mission has a worldwide impression: to make IoT connectivity accessible in every single place 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 firms with a diversified vary of use instances and geographies. It was based by a gaggle of seasoned entrepreneurs with intensive telecom and satellite tv for pc know-how expertise.