Sateliot expands satellite network with new investment

Sateliot, a company specialising in Low Earth Orbit (LEO) satellite connectivity under the 5G standard for the Internet of Things (IoT), is in the final stage of a €70 million Series B financing round. This follows a €13.8 million investment from the Spanish Society for Technological Transformation (SETT), a body under the Spanish government, which was approved today by the Council of Ministers.

The funding will support the development of a constellation of over 100 satellites, designed to provide real-time connectivity in areas without signal coverage. This infrastructure is expected to facilitate applications in defence, security, logistics, and critical infrastructure management.

With this latest investment, Sateliot has secured €58.8 million of its €70 million target. Previous contributions include €10 million from Global Portfolio Investments and a €5.2 million convertible note. These investors join existing shareholders such as Indra, Cellnex, and Sepides, which are active in telecommunications, defence, and security.

The company continues to attract national and international investment, aligning with its strategy to contribute to European digital and technological development.

European Investment Bank Support

As part of its Series B round, Sateliot has also secured a €30 million debt investment from the European Investment Bank (EIB). This marks the EIB’s first venture debt operation in the space sector and supports the development of telecommunications infrastructure, particularly in light of NATO and EU calls for increased defence spending and enhanced space capabilities.

Jaume Sanpera, CEO and co-founder of Sateliot, stated: “The confidence shown by SETT and other institutional investors demonstrates the importance of secure, accessible, and autonomous satellite connectivity for critical applications in civil, security, and defence sectors.”

Constellation Deployment

Sateliot has launched six satellites to date, including four in August, as it prepares to begin commercial services in 2025. The company currently has €270 million in contracts with over 400 customers across 50 countries and aims to generate €1 billion in revenue by 2030.

Sateliot is a satellite telecommunications operator providing global connectivity for IoT under the 5G protocol. Its constellation of low-altitude satellites functions as mobile towers in space.