Sateliot has joined the largest trade organization serving the IoT sector – the IoT M2M Council (IMC) – to raise awareness of its novel technology that seamlessly combines low-earth-orbit (LEO) satellite connectivity with more traditional cellular networks and for the first time in history under standard 5G protocol.
Sateliot has opened a €10 million convertible note to finance the deployment of its commercial constellation of low-orbit satellites that will provide 5G coverage for IoT devices anywhere in the world, directly from space.
Sateliot raised 10 million euros ($11.4 million) in a Series A investment round that conducted in two tranches. With the completion of the round, global technology company Indra owns approximately 10.5 percent of Sateliot. Cellnex, a European telecommunications and broadcasting giant, owns another 3.5 percent.
The support of EvoNexus will allow Sateliot to grow in the United States from our office in San Diego, in addition to working directly with experts in telecommunications and IoT devices from Qualcomm and Verizon, the world’s leading operator by turnover.
The consensus of the 3GPP stakeholders validated the work proposal on what are technically known as NB-IoT/eMTC standards that are adapted to non-terrestrial networks (IoT NTN) and thus endorsed the technical feasibility study, in addition to initiating the necessary preparations for the approval of the IoT NTN regulatory phase.
3GPP, the organization that periodically brings together the main players in the telecommunications sector to define the different communication standards, will include in the definition of the 5G-IoT standard the ‘scenario 4’ or also known in the sector as ‘Sateliot scenario’ in which low orbit nanosatellite networks are contemplated to provide IoT services.