EvoNexus Portfolio Company, Sateliot, Closing €10M with Indra and Cellnex

Sateliot is finalizing the closing of a capital increase of €10 million with Indra and Cellnex

Sateliot, the company that will put into orbit the first commercial constellation of 5G-IoT nanosatellites that will act as a coverage extension for mobile operators, is finalizing the closing of a capital increase divided into two tranches for ten million euros through which Indra and Cellnex are incorporated as new shareholders and industrial partners.

Specifically, at the end of December 2021, the first tranche of this series A of Sateliot was closed for €6.5 million, which has facilitated the entry of Indra and Cellnex in the company’s capital as industrial partners. This first tranche will be completed next February to reach ten million euros.

The final stake of both companies will be adjusted depending on the closing of the second tranche of the capital increase, although it is estimated to be around 10.5 percent in the case of Indra and approximately 3.5 percent in the case of Cellnex.

A new business dimension

The funds raised from the capital increase provide Sateliot with the necessary financing to advance in the development of the technology for its project, which will merge mobile and satellite networks under the same standard – already approved by 3GPP in a first phase – allowing commercial 5G IoT equipment to have global and continuous coverage through satellite technology.

The company thus acquires a new dimension that will also lead it to achieve new targets in its business plan, which already envisages a turnover of over €1 billion by 2025 and an EBITDA of €370 million.

Beyond financial investment

Beyond its stake in the company, Indra and Cellnex’s financial investment is based on technological and business reasons. Thus, while Indra will work with Sateliot in the development of IoT satellite solutions for defense and in its positioning as a strategic player in the New Space, Cellnex will support the company in its commercial approach to the market and in its knowledge of IoT and 5G technology.

In addition to the two listed companies, GateHouse, a leading Danish company in the development of software for the satellite sector and Sateliot’s strategic partner for the development of its technology, has also participated in this capital increase.

The round was completed by minority investors and business angels, as well as entities such as Seraphim, the first space sector fund based in the United Kingdom, which is a launching pad for emerging companies in this industry. Also technology incubators such as Evonexus – the accelerator sponsored by the microchip manufacturer Qualcomm and the operator Verizon – which has boosted Sateliot’s entry into the United States.

Jaume Sanpera, CEO

According to Jaume Sanpera, CEO of Sateliot, “Indra’s extensive knowledge of the aerospace sector validates Sateliot’s technology, giving it the solidity it needed. For its part, Cellnex, as a leading player in the provision of neutral infrastructures, will provide us with a transversal vision thanks to its expertise in 5G technology and business.”

Sateliot is the first satellite telecommunications operator to provide global and continuous connectivity to all the elements that will make up the Internet of Things (IoT) universe – such as the connected car or the connected home – under the 5G protocol. Thanks to a constellation of state-of-the-art nanosatellites, located at low altitude and acting as mobile towers from space, Sateliot is the perfect complement to large telecommunications companies by providing them with the necessary infrastructure to extend their coverage where terrestrial technologies do not reach.

Source: https://www.satellite-evolution.com/post/sateliot-is-finalizing-the-closing-of-a-capital-increase-of-10-million-with-indra-and-cellnex