{"id":157740,"date":"2025-03-26T13:06:55","date_gmt":"2025-03-26T13:06:55","guid":{"rendered":"https:\/\/peraltafinancing.com\/5g-technology\/sateliot-closes-on-e70m-funding-target-with-help-from-spanish-government\/"},"modified":"2025-03-26T13:06:55","modified_gmt":"2025-03-26T13:06:55","slug":"sateliot-closes-on-e70m-funding-target-with-help-from-spanish-government","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=157740","title":{"rendered":"Sateliot closes on \u20ac70m funding target with help from Spanish government"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Barcelona-based startup Sateliot has taken \u20ac13.8 million of funding from the Spanish government to swell its ongoing Series B funds to \u20ac58.8 million. The firm, building a non-terrestrial network (NTN) of low-Earth orbit (LEO) nanosatellites to provide NB-IoT connectivity to the planet\u2019s wilderness zones, on land and sea, wants to raise \u20ac70 million with the round to launch a total of 100 satellites by 2028. It put <a href=\"https:\/\/www.rcrwireless.com\/20240819\/internet-of-things-4\/sateliot-launches-nb-iot-satellites-preps-commercial-service-targets-e30m-funds\">four on a SpaceX shuttle<\/a> last August, bringing its total to six; it has a stated target to achieve revenues of \u20ac1 billion by 2030, and claims existing supply contracts worth \u20ac270 million.<\/p>\n<p>These are with \u201cover 400 customers across 50 countries\u201d, it said; the \u20ac270 million figure is for recurring annual value, it claims. Sateliot has said previously it has orders already to connect eight million IoT devices, and is actively working on deals to connect \u201c<a href=\"https:\/\/www.telcotitans.com\/infrawatch\/sateliot-ceo-charts-course-towards-1bn-annual-sales\/9060.article\" target=\"_blank\" rel=\"noopener\">hundreds of thousands<\/a>\u201d of devices in countries like Brazil and the USA. It plans to start commercial services this year (2025). It signed a <a href=\"https:\/\/www.rcrwireless.com\/20241202\/internet-of-things-4\/eseye-sateliot-satellite-nb-iot\">deal with UK-based cellular IoT MVNO Eseye<\/a> in December to connect customers where its terrestrial roaming networks do not reach.<\/p>\n<p>The new funds, proposed by the Spanish Society for Technological Transformation (SETT) and approved by the Spanish Council of Ministers, follow on the heels of a \u20ac10 million Series B contribution from Global Portfolio Investments and a \u20ac5.2 million convertible note, exchangeable for equity when the business scales, from unnamed parties. Sateliot has also secured a <a href=\"https:\/\/www.rcrwireless.com\/20241204\/internet-of-things-4\/sateliot-eib-nb-iot\">\u20ac30 million debt injection<\/a> from the European Investment Bank (EIB), marking the EIB\u2019s first venture debt operation in the space sector.<\/p>\n<p>Indra, Cellnex, and Sepides have invested previously \u2013 as \u201chard-core shareholders\u201d. The company\u2019s master plan is for a satellite network based on Release 17 specifications in the 5G standard, which will support LTE-era narrowband IoT (NB-IoT) comms on terrestrial 5G devices via LEO radio infrastructure. Spanish and European sponsorships are geared to boost regional tech sovereignty. Sateliot wants to wholesale the service as a roaming extension for terrestrial operators \u2013 targeting the defense, security, logistics, and \u201ccritical infrastructure management\u201d sectors.<\/p>\n<p>It stated: \u201cThe company continues to attract key national and international backers who are confident in its technological capabilities and unique position in Europe, reinforcing the strength of its founders\u2019 strategy to promote a \u2018country project\u2019 on the global stage\u2026 This support further strengthens Sateliot\u2019s role in developing sovereign telecommunications infrastructure when both NATO and the EU call for increased defense spending and enhanced space capabilities.\u201d<\/p>\n<p>It has a virtualized 5G core<a href=\"https:\/\/www.rcrwireless.com\/20220928\/internet-of-things\/sateliot-and-aws-collaborate-on-direct-to-satellite-5g-based-nb-iot-connectivity\"> courtesy of a deal with AWS<\/a> in late 2022.<\/p>\n<p>Jaume Sanpera, co-founder and chief executive at Sateliot, said: \u201cThe confidence shown by SETT and other institutional investors confirms that Sateliot is Europe\u2019s answer to the growing need for secure, accessible, and autonomous satellite connectivity \u2013 essential for critical applications in civil, security, and defense sectors.\u201d<\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Barcelona-based startup Sateliot has taken \u20ac13.8 million of funding from the Spanish government to swell its ongoing Series B funds to \u20ac58.8 million. The firm, building a non-terrestrial network (NTN) of low-Earth orbit (LEO) nanosatellites to provide NB-IoT connectivity to the planet\u2019s wilderness zones, on land and sea, wants to raise \u20ac70 million with the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":157741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12020],"tags":[43047,14586,15075,4378,65018,16717,3307],"dealstore":[],"offerexpiration":[],"class_list":["post-157740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-5g-technology","tag-70m","tag-closes","tag-funding","tag-government","tag-sateliot","tag-spanish","tag-target"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sateliot closes on \u20ac70m funding target with help from Spanish government - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=157740\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sateliot closes on \u20ac70m funding target with help from Spanish government - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Barcelona-based startup Sateliot has taken \u20ac13.8 million of funding from the Spanish government to swell its ongoing Series B funds to \u20ac58.8 million. The firm, building a non-terrestrial network (NTN) of low-Earth orbit (LEO) nanosatellites to provide NB-IoT connectivity to the planet\u2019s wilderness zones, on land and sea, wants to raise \u20ac70 million with the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=157740\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-26T13:06:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/03\/Copia-de-2-1024x577.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"577\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=157740#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=157740\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"Sateliot closes on \u20ac70m funding target with help from Spanish government\",\"datePublished\":\"2025-03-26T13:06:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=157740\"},\"wordCount\":470,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=157740#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2025\/03\/Copia-de-2.png\",\"keywords\":[\"70M\",\"closes\",\"Funding\",\"Government\",\"Sateliot\",\"Spanish\",\"Target\"],\"articleSection\":[\"5G Technology\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=157740#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=157740\",\"url\":\"https:\/\/fivemor.com\/?p=157740\",\"name\":\"Sateliot closes on \u20ac70m funding target with help from Spanish government - 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