Sateliot, a Barcelona-based startup pioneering the first low-Earth orbit (LEO) nanosatellite constellation using 5G NB-IoT standards, has raised €10 million in a Series B funding round.
The round was led by Global Portfolio Investments, with participation from existing investors such as Indra, Cellnex, and Sepides. This brings Sateliot’s total funding to €35 million since its founding in 2019.
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Scaling Up Satellite Infrastructure
The fresh capital will be used to launch over 100 5G IoT satellites by 2028, enabling real-time global coverage for millions of IoT devices. Sateliot’s technology is designed to connect IoT devices in sectors like agriculture, industry, and logistics, particularly in regions without access to terrestrial networks.
Commercial Rollout with SpaceX
The company recently launched four satellites with SpaceX and plans to begin its commercial phase by early 2025. CEO Jaume Sanpera emphasized that this investment boosts confidence among other potential investors and helps drive the company’s vision to revolutionize global IoT connectivity. Sateliot has already secured €250 million in contracts with over 400 customers worldwide, aiming for €500 million in revenue by 2027.
