IoT-focused satellite service provider Sateliot secured a place on a SpaceX rocket to launch four more low Earth orbit (LEO) birds, a move scheduled for July which will progress its plan to offer commercial 5G services in the second half of the year.
The satellites will bring Sateliot’s LEO constellation to six, which it previously stated will be enough to launch commercial operations. The company noted it had secured recurring revenue contracts worth €200 million, which is up €13 million since March when it announced the launch of the latest quartet.
Sateliot’s satellites will be carried on SpaceX’s Transporter-11 mission, which is essentially a taxi-like operation using the Falcon 9 rocket scheduled to blast off from a site in the US in July.
The Spain-based IoT player stated it is in talks with “space industry players and investors” to close a €30 million Series-B funding round required to finance plans to launch additional satellites in 2025. It noted it had raised €25 million since being founded in 2018, singling out Banco Santander’s contribution of €6 million.
Each satellite due to launch in July “represents an investment of” €500,000 and will deliver connectivity to “more than 8 million devices already subscribed to the services”, offering “various” use cases for SMEs, large businesses and public administrations.
The post SpaceX to propel Sateliot 5G-IoT launch plans appeared first on Mobile World Live.
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