Sateliot secures Â30m loan from European Investment Bank
This is the EIBs first venture debt operation with a Spanish space company and in the segment of satellite communications.
- Latest
- Trending
This is the EIBs first venture debt operation with a Spanish space company and in the segment of satellite communications.
With this agreement, EWT will benefit from global connectivity at no extra costs, enabling massive deployments of IoT devices and improving their current operations.
Sateliot secured €13.5m in funding over the past year, propelling swift progress towards a full commercial launch in 2024.
The satellite has an onboard module that allows direct NB-IoT connection for any 5G device upgraded Rel 17 NTN.
Sateliot is building a constellation of Low-Earth Orbit (LEO) satellites to provide narrowband IoT under the 3GPP standard.
The new service will allow Sentrisense to monitor sensors attached to electric towers or power lines, modify the amperage and quickly identify broken wires, fires or other dangerous conditions.
Sensefinity will use Sateliots satellite constellation and connectivity to track cargo containers when they are outside cellular networks.
Sateliot's first nanosatellite has passed all the technical phases of testing and verification of its systems.
The company is planning to launch its LEO nanosatellite constellation next year to offer a global and massive IoT service.
Open Cosmos is working on the construction, mission management and launch preparation of the first Sateliot nanosatellites.
The agreement is part of its $5.2m investment plan in R&D of Sateliot for the next two years.
This is the first phase of a project worth over USD 22.5m, which represents the largest R&D investment in the EU's 5G satellite field.
