It will begin to recurrently bill €187 million in binding orders signed with 350 clients in over 50 countries.
Barcelona, San Diego, March 8, 2024—Sateliot, the first company to operate a Low-Earth Orbit (LEO) 5G IoT satellite constellation acting as a seamless roaming extension of cellular networks, will launch four new satellites into space this year with SpaceX.
With the deployment of these four satellites plus the two already orbiting the Earth, Sateliot enters the first phase of its constellation, opening its commercial phase.
Sateliot, which counts partners such as Indra, Cellnex, or Sepides, will begin billing the €187 million of binding orders with over 350 clients in more than 50 countries worldwide. With these recurring revenues, the company aims to generate €500 million in revenue by 2027 and become a one billion revenue company by 2030.
The Spanish company has recently raised €13.5 million; of these, €6 million came from Banco Santander, €5 million from a convertible note, and the remaining €2.5 million from a participative loan from the public company Avançsa. These funds, along with the start of Series B, will allow it to advance its technology development, launch the four satellites, and strengthen the human team for the complete deployment of its constellation in 2027/2028, providing real-time coverage worldwide.
What are the satellites like?
The satellites consist of 4 cubesats, each 20 x 10 x 35 centimeters in size. They are the size of a microwave and have a net weight of 10 kilograms. They will orbit at an altitude of between 500 and 600 kilometers, have a lifespan of five years, and cover 100% of the planet.
However, the fundamental part of these satellites lies in their interior, supported by their own innovative technology tested and validated by the European Space Agency (ESA) and the 3GPP, the organization that periodically brings together the main actors in the telecommunications sector. This technology is standard and democratic, open to all citizens, public administrations, and companies.
Being standard makes it scalable, easy to maintain, and updated, allowing for the progressive deployment of the constellation according to customer demands. It starts with connectivity services for IoT applications such as agriculture, which only require two daily messages, and ends with real-time services worldwide. In this way, Sateliot can provide service with its first-phase constellation as opposed to other companies that need to deploy many more satellites for a similar commercial start.
Sateliot is renowned worldwide for satellite IoT and is one of the main companies driving the Spanish New Space, a strategic sector that has taken advantage of technological advances, reduced development times, and low investment costs to give renewed impetus to the industry.
Jaume Sanpera, CEO and co-founder of Sateliot said, "We are ready to enter a new dimension, both technologically and commercially. We are closer to becoming the first IoT constellation operating worldwide under the 5G standard. And we will place Spain at the forefront of the New Space revolution."
