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Sateliot seeks €150M for 5G phones from orbit
Barcelona-based Sateliot wants up to €150 million to expand its satellite network and deliver direct-to-smartphone 5G by early 2028.
Image: TNW
Sateliot is seeking to raise up to €150 million ($172 million) as it pushes to bring 5G data, voice, and video directly to ordinary smartphones from orbit by early 2028. The new target is a 50% increase from the €100 million round the Barcelona-based company announced in April.
Founded in 2018, Sateliot currently operates a network of low-Earth orbit satellites focused on connecting IoT devices such as shipping trackers and utility sensors. It plans to use the new funding to deploy 16 more satellites over the next year, then move to larger spacecraft designed for direct-to-device service.
“A new opportunity has emerged: integrating 5G within a satellite.”
The company is working with Telefonica on the technology for those direct links and says it also has partnerships with other network operators to extend coverage in remote areas. That smartphone push marks a major expansion beyond its original IoT business.
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The fundraising effort comes as Europe increases investment in satellite infrastructure to reduce reliance on Elon Musk’s Starlink. The European Space Agency is deploying €22 billion over three years, while the European Commission has proposed reserving airwaves suitable for direct-to-device satellite communications for domestic players.
Competition is building quickly. Amazon’s Project Kuiper is scaling up as another challenger to Starlink, while Vodafone and AST SpaceMobile’s Satellite Connect Europe joint venture is pursuing a similar direct-to-phone service. Its access to the proposed reserved European spectrum remains unclear, however, because the US company holds a 50% stake.
Sateliot is still looking for a lead investor for the round. The company said the additional €50 million could be raised as debt, and it expects up to 50% public co-financing. Meanwhile, IRIS² — the European constellation led by Eutelsat, SES, and Hispasat — is initially focused on broadband, leaving direct-to-device service as the opening Sateliot hopes to seize.
Enterprise Editor
Marcus follows the money. He covers enterprise software, cloud architecture, and the tectonic shifts in Big Tech strategy. He translates dense earnings calls and complex M&A activity into actionable insights about where the industry is actually heading. If a tech giant makes a silent pivot, Marcus is usually the first to notice.
via TNW
