Barcelona-Based EvoNexus Portfolio Company, Sateliot Launches Satellites with SpaceX

Barcelona-Based EvoNexus Portfolio Company, Sateliot Launches Satellites with SpaceX


Launching four satellites into low orbit provides the proof of use that will kickstart its commercialisation phase.

TECH EU / MAY 31ST, 2024 / Barcelona-based spacetech Sateliot has announced that it will partner with SpaceX to launch four Satellites in July to enter commercial phase.

The company is deploying the first 5G-IoT satellite constellation and has secured €200 million in contracts. The launch, aboard a Falcon 9 rocket, will take place from Vandenberg Air Force Base in California.

Sateliot will launch four satellites from its 5G-IoT constellation on SpaceX’s Transporter-11 mission. The launch is scheduled for July, and the satellites will fly aboard a Falcon 9 rocket from Vandenberg Air Force Base in California, USA.

The company, which is deploying the first low-Earth orbit satellite constellation with 5G standards for IoT and 100% global coverage, will commence its commercial phase with these satellites. It has already secured €200 million in recurring revenue contracts from over 400 clients in 50 countries worldwide.

Sateliot plans to deploy more satellites by 2025. To achieve this, the company is engaged in talks with national and international space industry players and investors to close its €30 million Series B funding round.

Since its inception in 2018, Sateliot has raised €25 million, including €6 million from Banco Santander. Sateliot’s business plan projects revenues of €500 million in 2027 and €1 billion in 2030, with an EBITDA margin of over 60%.

Each of the four CubeSat 6U satellites that Sateliot will launch in July represents an investment of half a million euros. They measure 20 x 10 x 35 centimeters, roughly the size of a microwave, and weigh 10 kilograms. They will orbit at about 600 kilometers altitude and have a lifespan of over five years.

Their technology, which will provide connectivity to more than eight million devices already subscribed to the service, is open to various use cases for SMEs, public administrations, and large companies.

According to Jaume Sanpera, CEO and co-founder of Sateliot, “With this launch, the company enters a new dimension that will allow Spain to lead IoT connectivity on a global scale.”

SOURCE: Lucy Adams, Tech EU

About Sateliot

Sateliot was founded in Spain in 2018, with the purpose of connecting IoT devices directly from space. The Executive team brings a deep knowledge of the Telecom industry, as well as a strong track record of successful outcomes. Over the past four years, Sateliot has achieved disruptive advances in the industry.

Together with 3GPP, the Company is enabling, for the first time in history, IoT devices that work in a hybrid mode with the capability of communicating through both satellite and terrestrial networks in every single place on earth, utilizing the official 3GPP standard. Sateliot’s business development team has engaged more than 300 companies in the market from hardware producers to MNOs and MVNOs who are very in need of an extension of coverage at zero risk. However, these MNOs and MCNOs, lack the technical expertise necessary to create these changes in house, hence directly benefit from Sateliot’s product and value proposition. After a 10M€ Series A in Dec’21, Sateliot is looking towards a Series B. This additional funding with enable the company to deploy additional satellites into its low earth orbit constellation, further reducing latencies and increasing capacity for its customers. To learn more, visit sateliot.space.

About SpaceX

SpaceX designs, manufactures and launches the world’s most advanced rockets and spacecraft. The company was founded in 2002 by Elon Musk to revolutionize space transportation, with the ultimate goal of making life multiplanetary.

SpaceX has gained worldwide attention for a series of historic milestones. It is the only private company ever to return a spacecraft from low-Earth orbit, which it first accomplished in December 2010. The company made history again in May 2012 when its Dragon spacecraft attached to the International Space Station, exchanged cargo payloads, and returned safely to Earth — a technically challenging feat previously accomplished only by governments. Since then Dragon has delivered cargo to and from the space station multiple times, providing regular cargo resupply missions for NASA.

For more information, visit www.spacex.com.

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.