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European Investment Bank Supports Sateliot with 30 Million Euro Loan for Satellites

The European Investment Bank is lending Sateliot €30 million to expand its low Earth orbit network with 16 additional nanosatellites by 2025. The Spanish startup has secured €45 million in a Series B funding round, aiming for a total of €70 million, and plans to deploy 250 satellites for global connectivity, targeting markets like agriculture and mining. Despite funding delays, Sateliot has signed agreements covering nine million devices across 50 countries, projecting over $250 million in annual recurring revenue.
SpaceNews
Euro Endurosat Sateliot Open Cosmos Myriota SpaceXCoin USD OQ Technology AUS GBR BGR ESP LUX Robert De Groot Show more
Technology & Innovation, News Article
07:00 04.12.2024
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