Sateliot Secures €116M for Sovereign IoT Satellite Expansion

Spanish satellite firm Sateliot has launched a €116 million ($116.9 million) Series C financing round to deploy an additional 16 low-Earth orbit (LEO) satellites, aimed at enhancing its dual-use IoT satellite constellation. The funding round anticipates up to 50% public co-financing and seeks both new and existing investors to accelerate its operational and global deployment scale. This initiative was highlighted during a visit from the Spanish Minister for Digital Transformation, emphasizing the role of institutional backing for critical infrastructure in reinforcing digital sovereignty in Spain and Europe.

The new constellation will incorporate Sateliot's innovative "New Radio" technology, which aims to deliver voice, video, and data for IoT applications. Currently, Sateliot operates six satellites and handles over one million messages daily, serving clients across 60 countries. The Government of Spain holds an 18.7% stake in the company and views this investment as part of a broader strategy to bolster its autonomous capabilities in critical technologies, thereby reducing dependency on foreign tech solutions in the IoT sector.