BMW, Samsung, Intel Back Satellite Connectivity Startup With $37M

Skylo Technologies said its satellite network bridges the gap between satellite and terrestrial communications

Scarlett Evans, Assistant Editor, IoT World Today

February 16, 2024

1 Min Read
Skylo Technologies' satellite network bridges the gap between satellite and terrestrial communications

Skylo Technologies, a direct-to-device satellite connectivity startup, has raised $37 million in its latest funding round, with investment from the corporate venture arms of BMW, Samsung and Intel.

The latest round brings Skylo’s total funding to $153 million, with previous investments from SoftBank and DCM.

Skylo said the funding is a “major step” in its expansion plans. 

The funds will be used to expand its scale and operations and advance its mission of making non-terrestrial networks more accessible for businesses across sectors, including consumer, automotive, agriculture, energy and transportation.

"We're immensely proud to lead this new chapter in direct-to-device satellite connectivity, supported by an incredible consortium of investors,” said Parth Trivedi, Skylo’s CEO. “This round accelerates our carrier partnerships and supports all top device makers adopting our standards-based solution."

Instead of building new satellites to create a direct-to-device network, Skylo’s model works by connecting IoT devices, including smartphones, wearables and connected cars, to existing satellite infrastructure. 

As such, mobile carriers can take advantage of the service without requiring a complete overhaul of its ecosystem.

Skylo has already launched an initial service across the U.S., Canada and Europe in collaboration with major chipset makers including Qualcomm, Samsung, MediaTek, and Sony.

Related:John Deere, SpaceX Partner, Give Farmers Satellite Connection

Skylo and Samsung S.LSI also have an ongoing partnership to bring Skylo's service to Samsung's flagship 5G modems. 

"We were impressed with Skylo's global connectivity solution that enables 'always-on, always-connected' communication for the automotive industry," said Kasper Sage, BMW i Ventures’ managing partner. "Skylo has a proven solution and team that is going to make satellite connectivity a new standard for the next generation of vehicles while keeping people safe and making their experiences seamless wherever they may go."

About the Author(s)

Scarlett Evans

Assistant Editor, IoT World Today

Scarlett Evans is the assistant editor for IoT World Today, with a particular focus on robotics and smart city technologies. Scarlett has previous experience in minerals and resources with Mine Australia, Mine Technology and Power Technology. She joined Informa in April 2022.

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