Satellite Launch Will Connect 7 Million IoT Devices

Sateliot says it will launch four satellites this summer to connect just under 7 million IoT devices, marking the commercial launch of the company’s LEO constellation. 

The satellites will be launched aboard a SpaceX rocket, and join Sateliot’s two existing Low-Earth Orbit (LEO) 5G satellites already orbiting Earth. 

Sateliot said it will begin billing the $204 million worth of binding orders, serving more than 350 clients in more than 50 countries worldwide.  

In a statement, the company said it hopes to generate $546 million in revenue by 2027 through these recurring revenues and become a $1 billion revenue company by 2023.

The company recently raised $14.75 million in a funding round, which it said will be used to advance its technology development, launch the four satellites, and “strengthen the human team for the complete deployment of its constellation in 2027/2028.”

The satellites themselves, which Sateliot said are the size “of a microwave,” will orbit between 300 to 400 miles above Earth, have a life span of five years and cover 100% of the planet. 

The satellites leverage technology tested and validated by the European Space Agency and use standardized systems to make it scalable, easy to maintain and open to all customers, public administrations, and companies. 

Related:Sateliot, Telefónica Extend 5G Network to Space

"We are ready to enter a new dimension, both technologically and commercially,” said Jaume Sanpera, Sateliot’s CEO. “We are closer to becoming the first IoT constellation operating worldwide under the 5G standard. And we will place Spain at the forefront of the New Space revolution."