Sateliot receives €6 million investment from Santander

Spanish startup Sateliot has received €6 million in funding from Banco Santander to accelerate the technological development of its Low Earth Orbit (LEO) satellites with 5G coverage for the Internet of Things (IoT). By 2024, the company is expected to launch four new satellites.

This financing is in addition to two other recent capital injections, totaling €13.5 million in less than a year, according to Sateliot. “These three operations demonstrate the trust that top-tier banks, regional public areas and other groups have placed in us. With this, we have created a strategic partnership that strengthens our leadership in the first 5G-IoT satellite constellation,” says Jaume Sanpera, CEO and co-founder of Sateliot.

Sateliot’s next strategic step will be to start Series B financing for 250 5G nanosatellites, with a further 64 to be launched over the next 18 months. According to Sateliot, agreements have already been secured with global telecommunications operators and companies in the sector, extending binding orders worth more than €150 million.

In July last year, Sateliot and Telefónica, through the Telefónica Tech and Telefónica Global Solutions (TGS) divisions, successfully carried out tests to extend the reach of Telefónica’s 5G cellular networks via satellites and based on GSMA standard roaming. A normal SIM card provisioned on Telefónica Tech’s Kite platform was used in an IoT device with a cellular connection, seamlessly switching it to Sateliot’s network.

The test also presented the implementation of ‘Store & Forward’, a two-step authentication method developed and patented by Sateliot for roaming with mobile network operators and adapted to non-terrestrial networks in low earth orbit (NTN LEO).

Founded in 2018 in Barcelona, Spain, Sateliot is a satellite telecommunications operator focused on offering services for the Internet of Things using the 5G NB-IoT protocol. In Sateliot’s own words, its LEO constellation will function like cell towers in space, allowing it to easily switch between 5G networks on the ground and in space without the need for additional hardware. The company has already brokered roaming agreements with telecom operators, which means it will be possible to keep current SIM cards. The first satellite in Sateliot’s constellation was launched in April 2023.

IoT and 5G connectivity via satellite

In Sateliot’s view, the Internet of Things and 5G satellite connectivity form a perfect duo when it comes to sustainable growth through renewable energy sources.

For example, the use of IoT sensors in solar panels can continuously collect data on temperature, power generation, tilt angle and malfunctions and, relying on 5G satellite connectivity, transmit it in real time to provide immediate insights into the operation of the panels. With the help of satellites, solar energy parks can be installed in even the most remote locations and maintained remotely.

According to Sateliot, 5G satellite connectivity breaks down geographical barriers, creating a global network of interconnected solar energy systems. This can help promote the efficient sharing of renewable energy resources between regions and even countries and the worldwide transition to sustainable energy sources.

In the field of logistics, too, IoT and 5G satellite connectivity can be very useful.  T42, a specialist in tracking solutions, will deploy thousands of 5G-IoT sensors in containers belonging to 50 logistics companies in more than 50 countries, connecting them to Sateliot satellites to put an end to the problem of lack of coverage on the high seas. This will ensure the safe control of goods throughout the transportation route, with monitoring data on location, acceleration, temperature, humidity, impacts, inclination, lighting conditions and container damage. Shipping companies are expected to save €47 billion annually.

According to Sateliot, currently 99% of shipping containers are not tracked or inspected due to a lack of cellular and satellite connectivity, leading to losses through cargo theft, tampering, accidents, damage, etc. In response to this scenario, shipping companies are making significant investments to make 25% of their containers smart by 2025.