Sateriot announces plans to expand 5G IoT satellite fleet this year
Written by Hugo Ritomiko
Barcelona, Spain (SPX) March 9, 2024
In a bold move to expand its reach in the space-based Internet of Things (IoT) space, Satelliot has announced plans to launch four more satellites this summer. These satellites join the company’s pioneering Low Earth Orbit (LEO) 5G IoT constellation, which serves as a direct roaming extension to terrestrial cellular networks. This expansion marks the start of Sateliot’s commercial phase and is the first step towards his goal of connecting approximately 7 million IoT devices worldwide.
Future launches in partnership with SpaceX will bring Satelliot’s total number of operational satellites to six. This expansion is crucial to the company’s strategy as it begins processing his €187 million firm orders from his more than 350 customers in 50 countries. Satelliot aims to leverage these initial revenues to reach his goal of 500 million euros by 2027 and be poised to achieve revenue of 1 billion euros by 2030.
Sateriot’s latest fundraising campaign successfully secured €13.5 million, with contributions from major backers including Banco Santander and the public company Avantsa. These funds will be used to strengthen the company’s team in preparation for advances in satellite technology, the impending satellite launch, and his full satellite deployment by 2027/2028, which promises real-time global coverage.
Designed as a cubesat, the satellite measures 20 x 10 x 35 centimeters (about the size of a microwave oven) and weighs 10 kilograms. They orbit the Earth at an altitude of 500-600 kilometers and ensure complete planetary coverage over a five-year operational life. The core of Sateliot’s innovation lies in these satellites, which include technology approved by both the European Space Agency (ESA) and 3GPP, the group that unites major telecommunications carriers. This technology makes Sateliot’s services standardized, scalable, and easily updatable for a wide range of IoT applications, from agriculture to real-time global services.
Satelliot’s efforts establish Satelliot as a leading company in the IoT and new space sectors in Spain, underscoring Spain’s growing prominence in space innovation. Jaume Sanpera, CEO and co-founder of Sateliot, expressed his enthusiasm for the company’s trajectory, saying, “We are ready to enter new dimensions both technologically and commercially. We are approaching the first IoT constellation operating worldwide under standards. We will put Spain at the forefront of the new space revolution.”
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