EvoNexus Company, Sateliot, Launched the World’s First 5G IoT Satellite Constellation With New $75M Series B Funding
The Satellites Launched (Photo: Sateliot)
“In 2021, a satellite startup based in Europe was admitted to EvoNexus. We’ve been fortunate to establish corporate relationships with satellite and geospatial companies that include Globalstar (Qualcomm/Loral JV & Xcom), Viasat (recent merger with Inmarsat), and BAE Systems. Corporate partnerships are a huge attraction for startups vying for admission to our unique deep-tech incubation program. Sateliot entered the satellite sector at a very challenging time for a startup. At that time, the media was paying a lot of attention to new LEO satellite companies such as Starlink and Amazon Kuiper. In addition, the worldwide pandemic was still in effect. Even with those challenges, scrappy Sateliot stayed on their mission to take advantage of providing a service via satellite that larger companies were going to ignore for some time: remote IoT monitoring. We are exceptionally proud of the accomplishments of Sateliot—especially their fearless founders,” said Rory Moore, Co-Founder and CEO of EvoNexus.
Sateliot Incubation Timeline at EvoNexus
About Sateliot
Sateliot is the first satellite operator to offer global IoT connectivity using standard 5G Narrowband IoT (NB-IoT). Their LEO satellite constellation acts as cell towers in space, seamlessly extending mobile network operator coverage to connect standard, unmodified terrestrial devices anywhere on Earth. By leveraging the 3GPP Release 17 standard, they deliver scalable, affordable, and secure connectivity without the need for proprietary hardware, enabling massive IoT adoption in remote and underserved areas. Their solution supports critical industries such as agriculture, defense, logistics, energy, maritime, infrastructure, mining, and environmental monitoring
SOURCE: sateliot.space
The Satellite (Photo: Sateliot)
About EvoNexus
EvoNexus is California’s leading nonprofit technology startup incubator located in San Diego and Irvine. EvoNexus has successfully incubated over 270 startups with a survival rate of over 85%. Since the incubator’s formation in 2010, EvoNexus companies have achieved over $4.6B in funding and outcomes, $6B in pre-exit valuation, and 55 acquisitions. EvoNexus is supported by corporate partners, including some of the largest multinational corporations in the world.
Learn more at evonexus.org/