The Internet of Things (IoT) is growing rapidly, but seamless connectivity across remote and underserved areas remains a challenge. Sateliot, a Barcelona-based satellite telecom operator, tackles this issue by integrating satellite connectivity with traditional mobile networks.
In a recent move, the company has secured a €30 million loan from the European Investment Bank (EIB) that backed BeDimensional and Vay. This is the EIB’s first venture debt operation with a Spanish space company and in the segment of satellite communications.
In 2023 the EIB Group comprising the EIB and the European Investment Fund (EIF) signed over €11.4 billion in financing for Spain. Of this, around €6.8 billion went to projects for climate action and environmental sustainability. In total, the EIB Group signed €88 billion in new financing in 2023.
Funds utilisation
The EIB’s investment is not just financial support but a strong endorsement of Sateliot’s technology and vision. The loan will be deployed to expand Sateliot’s nanosatellite constellation to over 100 LEO (Low Earth Orbit) satellites, scale research and development in satellite-enabled IoT technologies, and accelerate commercialisation efforts to bring affordable connectivity to global markets.
What does the company solve?
Sateliot was founded in 2018 by Jaume Sanpera alongside a team of telecom experts passionate about bridging connectivity gaps. Sanpera envisioned a future where IoT devices could operate without interruption, regardless of location.
The spark for Sateliot came from the limitations of terrestrial networks in remote and rural areas. Having identified an opportunity to leverage satellite technology in partnership with mobile network operators, the team created a constellation of nanosatellites to offer seamless, affordable IoT coverage.
By integrating nanosatellites into standard 5G networks, it ensures IoT devices maintain communication even in the most remote locations. This innovation eliminates the need for custom hardware or expensive roaming charges, making IoT solutions more accessible to industries such as agriculture, enabling precise monitoring of crops in isolated fields; maritime, enhancing ship tracking and safety in vast oceans; and environmental monitoring, providing real-time updates from remote sensors for climate and disaster management.
By delivering uninterrupted global coverage, Sateliot reduces operational inefficiencies and opens new avenues for IoT-driven innovation.
What’s next for Sateliot?
With the EIB’s support, Sateliot is poised to accelerate its deployment of nanosatellites and broaden its network partnerships. The company is on track to launch a full constellation by 2025, enabling continuous IoT connectivity globally. This milestone will unlock transformative possibilities for industries and regions previously excluded from IoT’s benefits.
Its journey is a testament to the power of innovation in addressing real-world challenges. By democratising IoT connectivity, it’s empowering industries, enhancing efficiency, and paving the way for a smarter, more connected world. As hybrid satellite-terrestrial solutions gain traction, Sateliot’s approach could set the benchmark for the future of IoT communication.
“This EIB backing – together with the support that Sateliot has already received from major investor groups and other banks and institutions – gives a huge boost to our development. This capital will be used to move forward with the next stage of our constellation and comes in addition to the income we will begin to receive in 2025 when the four satellites we already have in orbit enter commercial service,” added Sateliot CEO and Co-founder Jaume Sanpera.
“This loan shows the EIB’s commitment to innovation and development in the European space sector, thereby supporting the digital transition and contributing to the European Union’s strategic autonomy in areas of space and global connectivity in the context of the EIB Strategic European Security Initiative,” said EIB Vice-President, Robert de Groot.
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