The launch of four Sateliot low-earth orbit satellites last weekend marks a step forward for the company’s plans to provide standards-based 5G IoT connectivity and could bolster its ongoing efforts to raise €30 million in a Series B funding round.
Sateriot’s satellites were launched aboard a SpaceX Falcon 9 rocket from a facility in California, US, late on August 16. The CEO of the IoT company said the launch brought it one step closer to generating revenue. The company had previously targeted a commercial launch later this year.
Sampera said the launch marks a “new stage of development” for Sateriot and establishes its home market, Spain, as a “world leader in IoT connectivity.”
The company had previously said that the newest satellite brings its current constellation to six.
Sateriot is differentiating its 5G NB-IoT NTN services by adopting GSMA and 3GPP standards, as it sees opportunities to fill untapped areas for SMEs, governments and large enterprises in the agriculture, livestock and logistics sectors.
The company said that current orders will initially connect more than 8 million devices once the service is launched. In March, Sateriot said it had 350 customers and expected revenue of 1 billion euros by 2030, a goal it reiterated in its latest announcement.
Sateriot said it plans to launch more satellites in 2025 to enhance its global coverage.
