Europe is committed to strengthening its position in the space sector by providing crucial support to Sateliot, an innovative Spanish startup specializing in satellite IoT connectivity. Thanks to a loan of 30 million euros from the European Investment Bank (BEI), the company will be able to deploy 16 new nanosatellites in its network low earth orbit by 2025. This initiative is part of a broader strategy aimed at guaranteeing Europe’s strategic autonomy in the space domain and promoting global connectivity. With several established partnerships and a solid track record, Sateliot is well on its way to revolutionizing the communications sector, while creating new opportunities for varied markets such as agriculture and mining.
There European Investment Bank (EIB) granted a loan of 30 million euros has Sateliot, a Spanish company specializing in satellite connectivity. This financing allows Sateliot to add 16 nanosatellites to its low altitude network by the end of 2025, thus strengthening Europe’s strategic autonomy in the space domain. EIB President Robert de Groot underlined the importance of this support to improve global connectivity. Sateliot also mobilized 45 million euros additional funds as part of a Series B financing and aims to deploy a constellation of 250 satellites to offer real-time services to a multitude of sectors, including agriculture and mining.
There European Investment Bank (EIB) recently granted a €30 million loan to Sateliot, a Spanish startup specializing in remote satellite connectivity. This financing will be a key lever for Sateliot to add 16 new nanosatellites to its network in low Earth orbit before the end of 2025. The EIB Vice-President stressed that this loan reaffirms Europe’s commitment to supporting its strategic autonomy in the space sector as well as global connectivity. An initiative that underlines the importance of investments in innovation and the digital economy.
A structuring project for IoT connectivity
With this financing, Sateliot aims to strengthen its constellation of satellites that integrates with the 5G standard, used by terrestrial operators. This will allow their customers to connect without hindrance, thus transforming the way data is collected and transmitted. Sateliot has already successfully raised €28 million through a mix of debt and equity, consolidating its position in the IoT connectivity market. In parallel, the company plans to generate revenue from customers in various sectors, such as agriculture and mining, from 2024. Future outlook and challenges facedBeyond the numbers, Sateliot has considerable ambitions, with a target of 250 satellites to provide a global real-time service. Despite funding delays that have constrained its expansion plans, the startup remains committed to exploring new market opportunities. Roaming agreements
space-based, signed with more than 400 companies across 50 countries, are the key to their success, representing recurring revenue of more than $250 million per year. Collaboration with the EU in this project constitutes a strategic asset for the future development of the company.
