Sateliot has announced that it has entered into a partnership with SpaceX to launch four new satellites into space in 2024.

The company, which counts firms such as Indra, Cellnex and Sepides as partners, said it is the first to operate a low-Earth orbit (LEO) 5G internet of things (IoT) satellite constellation acting as a “seamless” roaming extension of cellular networks, and that with the deployment of these four satellites plus the two already orbiting the Earth, it is entering the first phase of its constellation and opening its commercial phase.

The Spanish company has recently raised €13.5m. In addition to the €6m from Banco Santander, €5m has come from a convertible note, and the remaining €2.5m from a participative loan from public company Avançsa.

Sateliot said these funds, along with the start of Series B, will allow it to advance its technology development, launch the four satellites and strengthen its team for the complete deployment of its constellation in 2027/2028, providing real-time coverage worldwide.

The four satellites comprise cubesats, each 20 x 10 x 35cm in size. They are the size of a microwave, and have a net weight of 10 kilograms. They will orbit at an altitude of between 500 and 600 kilometres, have a lifespan of five years and are said to cover 100% of the planet. Sateliot stressed that the fundamental part of these satellites lies in their interior, supported by their own innovative technology, tested and validated by the European Space Agency (ESA) and mobile communications standards body 3GPP.

Complying with such standards is said by the company to be the key to making the craft scalable, and easy to maintain and update, allowing for the progressive deployment of the constellation according to customer demands.

The firm believes its offer will start with connectivity services for IoT applications such as agriculture, which only require two daily messages, and end with real-time services worldwide. This way, Sateliot can provide service with its first-phase constellation as opposed to other companies that need to deploy many more satellites for a similar commercial start.

Sateliot has already built up a sales pipeline of more than €1bn, with companies boasting a diversified range of use cases and geographies. Sateliot will now begin billing the €187m of binding orders with over 350 clients in more than 50 countries worldwide. With these recurring revenues, the company aims to generate €500m in revenue by 2027 and become a $1bn revenue company by 2030.

Commenting on the launches, Sateliot CEO and co-founder Jaume Sanpera said: “We are ready to enter a new dimension, both technologically and commercially. We are closer to becoming the first IoT constellation operating worldwide under the 5G standard, and we will place Spain at the forefront of the New Space revolution.”

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