The Sateliot operator has launched a new Series C funding round worth 100 million euros to deploy its 5G satellite constellation.
The round, primarily structured as equity, with the possibility of adding an additional debt portion, has just opened and the company expects to close it in the summer. Sateliot aims to bring in a lead investor and keeps the round open to new and existing shareholders. Additionally, it foresees up to 50% public cofinancing via “match funding”.
The capital will be used primarily to deploy 16 satellites that will complete the IoT use case and serve as a demonstration of the 5G New Radio technology that integrates voice, video and data. Sateliot has put six satellites into orbit and plans to launch five more in 2026.
Sateliot arrives at this capital raise with pre-contracts worth 270 million euros, with more than 400 customers in 60 countries, in addition to agreements with operators such as Telefónica and Deutsche Telekom.
The startup has raised nearly 100 million euros since its founding, backed by a bloc of industrial, institutional and financial investors of the highest level such as Indra, Cellnex, Sepides (SEPI), Banco Santander, the Spanish Society for Technological Transformation (SETT), Hyperion and Global Portfolio Investments, in addition to support from the European Investment Bank (EIB), with which it financed the initial deployment of its technology and the company’s growth.
Jaume Sanpera, CEO of Sateliot, stated that “this Series C reflects the scale and timing of the company. It is the largest round we have opened to date. With it, we will accelerate the deployment of our constellation and the global-scale commercialization. We count on the support of industrial, financial and institutional investors to cement a European satellite connectivity infrastructure for 5G.”
