Spain-based satellite operator Sateliot will launch four satellites aboard SpaceX's Transporter-11 mission in July. The satellites will be carried by a Falcon 9 rocket from Vandenberg Air Force Base in California, marking the start of Sateliot's commercial operations.
Also Read: Sateliot to Launch Four New Satellites, Entering Commercial Phase
Securing Contracts and Funding
The company has already secured EUR 200 million in contracts from over 400 clients in 50 countries. To further its growth, Sateliot said it is in talks with industry stakeholders and investors to finalise a EUR 30 million Series B funding round. Since its inception in 2018, Sateliot has raised EUR 25 million, including EUR 6 million from Banco Santander, TelecomTalk reported.
Projected Revenues and Business Plan
Sateliot's business plan projects revenues of EUR 500 million by 2027 and EUR 1 billion by 2030, with an EBITDA margin of over 60 percent. The company, which is deploying the first low-Earth orbit satellite constellation with 5G standards for IoT and global coverage, will commence its commercial phase with these satellites.
Also Read: Sateliot Secures EUR 6 Million Funding From Banco Santander
CubeSat 6U Satellites
Each of the four CubeSat 6U satellites set for launch represents an investment of EUR 500,000. Measuring 20 x 10 x 35 centimetres and weighing 10 kilograms, these satellites will orbit at an altitude of 600 kilometres with a lifespan of over five years, Sateliot explained. They will provide connectivity to over eight million devices worldwide, supporting a diverse range of users from SMEs to large corporations.
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."
Also Read: Sateliot Achieves 5G Service Connection Through KSAT and AWS Integration
The company said this launch is a step towards Sateliot’s goal of achieving 100 percent global 5G IoT coverage by 2025.
