SpaceX, the American aerospace manufacturing and space transportation services company owned by Elon Musk, will be in charge of launching Sateliot's second nanosatellite in the first quarter of 2023 from its orbital launch pad located at Cape Canaveral, Florida. A Falcon 9 rocket will be in charge of transporting the first of the five nanosatellites that Sateliot plans to put into orbit next year and with which it will fully enter the commercial phase. The forecasts are to have 64 nanosatellites in the air in 2024 and 250 in 2025.
The new nanosatellite introduces a novelty with respect to the previous one that Sateliot put into orbit in March 2021. Unlike the former, it allows standard connectivity, with which commercial tests can now begin. This means paving the way for the widespread adoption of IoT under the 5G standard from space.
The nanosatellite is built using cube-based technology, is the size of a microwave oven, weighs around 12 kilos and will be placed in a low-altitude orbit, just 500 kilometers from Earth. Its implementation will increase Sateliot's capacity to test it together with the more than 500 companies that make up the Early Adopter Program (EAP). Sateliot has reached a portfolio of 1,000 million euros with this program thanks to the pre-commercial agreements established with them.
In order to support this phase of growth, Sateliot has opened the subscription of convertible bonds for an amount of 10 million euros, which is already subscribed at 40%. This operation will be followed by the opening of a financing round with which the company wants to raise an additional 100 million. The objective of the firm is to invoice 1,000 million and achieve an EBITDA of 370 million in 2026.