Editor's Pick 30-05-2024 15:10 19 Views

Sateliot to Launch Four Satellites with SpaceX in July to Enter Commercial Phase

The company is deploying the first 5G-IoT satellite constellation and has secured €200 million in contracts. The launch aboard a Falcon 9 rocket will take place from Vandenberg Air Force Base in California.

Sateliot will launch four satellites from its 5G-IoT constellation on SpaceX’s Transporter-11 mission.

The launch is scheduled for July, and the satellites will fly aboard a Falcon 9 rocket from Vandenberg Air Force Base in California, USA.

The company, which is deploying the first low-Earth orbit satellite constellation with 5G standards for IoT and 100% global coverage, will commence its commercial phase with these satellites. It has already secured €200 million in recurring revenue contracts from over 400 clients in 50 countries worldwide.

Sateliot plans to deploy more satellites by 2025. To achieve this, the company is engaged in talks with national and international space industry players and investors to close its € 30 million Series B funding round.

Since its inception in 2018, Sateliot has raised €25 million, including €6 million from Banco Santander. Sateliot’s business plan projects revenues of €500 million in 2027 and €1 billion in 2030, with an EBITDA margin of over 60%.

CubeSats and Technology

Each of the four CubeSat 6U satellites that Sateliot will launch in July represents an investment of half a million euros. They measure 20 x 10 x 35 centimeters, roughly the size of a microwave, and weigh 10 kilograms. They will orbit at about 600 kilometers altitude and have a lifespan of over five years.

Their technology, which will provide connectivity to more than eight million devices already subscribed to the service, is democratic and accessible, open to various use cases for SMEs, public administrations, and large companies.

According to Jaume Sanpera, CEO and co-founder of Sateliot,

“With this launch, the company enters a new dimension that will allow Spain to lead IoT connectivity on a global scale.”

The post Sateliot to Launch Four Satellites with SpaceX in July to Enter Commercial Phase appeared first on IoT Business News.

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