Sateliot is finalising a €70 billion Series B financing round, with the government injecting €13.8 million via the Spanish Society for Technological Transformation (SETT).
The company plans to use the funds to invest in a constellation of more than 100 satellites, which will provide IoT connectivity from a 5G network.
Sateliot’s satellites serve telcos, extending connectivity to rural use cases, as well as customers in defence and security.
In addition to investment from the Spanish government via SETT, Sateliot has also secured a €30 million debt injection from the European Investment Bank (EIB).
The investments add to prior contributions, including €10 million and a convertible note of €5.2 million from Global Portfolio Investments.
“The confidence shown by SETT and other institutional investors confirms that Sateliot is Europe's answer to the growing need for secure, accessible, and autonomous satellite connectivity — essential for critical applications in civil, security, and defence sectors,” said Jaume Sanpera, CEO and co-founder of Sateliot.
The company has already launched six satellites into orbit, with another four planned for August.
Sateliot said it currently holds €270 million in contracts and aims to reach €1 billion in revenue by 2030.
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