Sateliot, a Barcelona-based startup, has obtained a €30 million loan from the European Investment Bank (EIB) to advance its ambitious satellite network project. This funding will support the deployment of over 100 Low Earth Orbit (LEO) satellites designed to provide Internet of Things (IoT) connectivity to remote and underserved regions globally. The investment marks a significant step in expanding digital infrastructure, enabling smarter agriculture, maritime operations, and environmental monitoring through enhanced satellite communication.
Sateliot’s initiative builds on previous efforts to integrate satellite technology with IoT applications, aiming to bridge connectivity gaps in areas where traditional networks are impractical. Unlike earlier projects that focused primarily on urban or commercially viable locations, Sateliot targets rural and oceanic regions, offering comprehensive coverage that was previously unattainable. This strategic focus enhances the potential for widespread adoption and practical implementation of IoT solutions in diverse environments.
How Will the €30M Loan Enhance Sateliot’s Satellite Network?
The €30 million loan from the EIB will facilitate the deployment and operational expansion of Sateliot’s constellation of LEO satellites.
“This capital will be used to move forward with the next stage of our constellation and comes in addition to the income we will begin to receive in 2025 when the four satellites we already have in orbit enter commercial service,”
stated Jaume Sanpera, CEO and Co-founder of Sateliot. The enhanced network aims to support over 8 million IoT devices, providing reliable connectivity to regions previously outside the reach of conventional ground-based networks.
What Impact Does This Financing Have on the European Space Sector?
The EIB’s investment underscores its commitment to fostering innovation within the European space industry.
“This loan shows the EIB’s commitment to innovation and development in the European space sector, thereby supporting the digital transition and contributing to the European Union’s strategic autonomy in areas of space and global connectivity,”
explained EIB Vice-President Robert de Groot. By funding Sateliot, the EIB is reinforcing the European New Space ecosystem, promoting technological advancements and supporting policies that enhance Europe’s position in the global space market.
How Does Sateliot’s Project Compare to Previous Satellite Initiatives?
Sateliot’s project distinguishes itself by focusing on IoT connectivity rather than broader communication services. Previous satellite initiatives, such as those under the Copernicus and Galileo programs, primarily aimed at Earth observation and global navigation, respectively. Sateliot’s specialized approach in deploying 5G-NB-IoT satellites addresses specific niche applications like asset monitoring in agriculture and maritime sectors, offering tailored solutions that complement existing space-based services.
The partnership between Sateliot and the EIB, supported by the InvestEU programme, not only provides essential funding but also integrates strategic advisory services to optimize the development and deployment of the satellite network. This comprehensive support structure is poised to accelerate the digital transformation in various industries, leveraging satellite technology to enhance operational efficiency and data management in remote locations.
Sateliot’s expansion through the EIB loan is poised to significantly impact the availability and reliability of IoT services in hard-to-reach areas. By integrating satellite connectivity with IoT applications, the project facilitates advancements in sectors such as agriculture, fisheries, and environmental monitoring. This development not only addresses the connectivity challenges in remote regions but also promotes sustainable practices and informed decision-making through enhanced data accessibility.
The collaboration between Sateliot and the EIB exemplifies the synergy between private innovation and public funding in advancing space technology. This model of support fosters a robust New Space ecosystem, enabling startups to scale their operations and contribute to the broader goals of digital inclusion and technological autonomy within the European Union.
Sateliot’s initiative, backed by significant financial support and strategic guidance, sets a precedent for future collaborations in the European space sector. The successful deployment of their satellite constellation will not only expand IoT connectivity but also demonstrate the viability of leveraging space-based infrastructure to address real-world connectivity challenges, paving the way for further innovations and investments in the field.
- Sateliot receives €30M from the European Investment Bank.
- The funding supports over 100 LEO satellites for IoT connectivity.
- Project enhances IoT applications in remote and underserved areas.
