Spain’s Sateliot seeks €100 million to accelerate deployment of its 5G satellite network
Spain's Sateliot is spearheading a significant advancement in European digital infrastructure with its €100 million Series C funding round, aimed at accelerating the deployment of its innovative 5G satellite network. This initiative is crucial for enhancing global connectivity and bolstering European digital sovereignty, providing an alternative to existing non-European satellite solutions. The funding, expected to close in summer, will primarily be equity-based, with potential for debt financing and up to 50% public co-financing. The company plans to deploy a constellation of 16 satellites, building upon its previous €70 million Series B funding. Sateliot's technology integrates terrestrial and satellite networks, enabling unmodified commercial NB-IoT devices to connect directly from space via its Low Earth Orbit (LEO) constellation. This novel approach promises affordable, global 5G connectivity, particularly for remote areas and locations lacking traditional infrastructure. This substantial investment underscores Sateliot's ambition to establish a robust European 5G satellite connectivity infrastructure, contributing to a broader trend of increasing European investment in SpaceTech and orbital infrastructure. The Spanish government has expressed strong support for Sateliot, viewing it as a key example of Spanish and European digital sovereignty and a project that integrates the entire satellite development cycle within Spain. This aligns with the EU's strategic goals for greater autonomy in critical digital technologies.
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