Sateliot, an EvoNexus Company, Listed First in Yahoo Finance Article: 16 Largest Satellite Companies In The World

Sateliot, an EvoNexus Company, Listed First in Yahoo Finance Article: 16 Largest Satellite Companies In The World




“Sateliot applied to enter the EvoNexus program in 2021,” said Rory Moore, EvoNexus Co-Founder & CEO. “They were attracted to the program due to the long-standing relationship we have had with our sponsors, such as Qualcomm, Viasat, and others. Their plan to develop a platform specifically for IoT data generated from remote locations to their purpose built satellite sounded both pioneering and complicated. Taking advantage of the myriad of connections in the EvoNexus organizations in communications and high-quality mentoring, they were able to develop and launch their first satellite on a beer budget, compared to constellations that seems to be going up on a regular basis. We are very proud to have been supportive of this very promising European-based company.”

YAHOO FINANCE / MARCH 31ST, 2024 / In this article, we will look into the 16 largest satellite companies in the world. If you want to skip our detailed analysis, you can go directly to the 5 Largest Satellite Companies in the World.

According to a report by Allied Market Research, the global satellite market was worth $286 billion in 2022. It is expected to grow at a compound annual growth rate (CAGR) of 8.1% from 2023 to 2032 and reach $615.7 billion by the end of the forecasted period. The growth is driven by the rise in space exploration missions, an increase in satellite-based warfare, and the growing trend of small satellites.

Satellite Startup for Global IoT Connectivity

On March 8, Reuters reported that Sateliot, a Spanish startup, is aiming for €100 million in funding to launch a network of small satellites. The company will enter the competitive market for the provision of cost-effective internet access through space, for which the current market is estimated to be valued at $100 billion. The startup stands out among its competitors by taking a unique approach of building a smaller network to focus on connecting IoT devices across regions with restricted coverage of mobile networks. With this venture, the startup is targeting customers from different sectors, such as logistics corporations, farmers, and oil management platforms. The company’s two satellites are already in orbit, with four commercial satellites set to be launched by June 2024. The Spanish startup is expected to be operational in the year’s second half. You can also look at the 12 Best Space Stocks To Buy According To Hedge Funds.

Read the rest of the Yahoo Finance article by Meerub Anjum here.

About Sateliot

Sateliot is launching the first LEO satellite constellation based on the 5G standard, allowing commercial unmodified cellular IoT devices to connect from space. This is the first time in history that cellular terrestrial telecom is merging seamlessly with satellite connectivity and Sateliot is leading this revolution. Sateliot’s cost-effective technology and the possibility to use commercial low-cost (<$5) devices to connect to satellite opens infinite possibilities on the untapped market of massive IoT in remote areas, and it is in line with Sateliot’s mission to make IoT connectivity available everywhere and to everybody. Learn more at sateliot.space.

About EvoNexus

EvoNexus is California’s leading nonprofit technology startup incubator located in San Diego. EvoNexus has successfully incubated over 260 startups with a survival rate of over 85%. Since the incubator’s formation in 2010, EvoNexus companies have secured over $1.6B in venture funding, $10B in pre-exit valuation, and had 51 acquisitions valued at over $2.1B. EvoNexus is supported by corporate partners, including some of the largest multinational corporations in the world. Learn more at evonexus.org.