Sateliot secures major backing to scale 5G IoT satellite network

Sateliot secures major backing to scale 5G IoT satellite network
by Erica Marchand
Paris, France (SPX) Apr 01, 2025

Sateliot has finalized a euro 70 million Series B funding round, reinforcing its role as the first 5G IoT mobile operator delivering connectivity from space. The company uses an innovative low-Earth orbit (LEO) satellite constellation to provide cost-effective global Internet of Things (IoT) services, enabling coverage where traditional networks fall short.

The newly raised capital will accelerate the deployment of over 100 LEO satellites, expanding Sateliot's footprint in underserved and critical sectors such as defense, logistics, energy, mining, agriculture, environmental monitoring, and telecommunications infrastructure. The system is designed to extend low-cost IoT coverage to remote and hard-to-reach regions worldwide.

With six satellites already in orbit, including four launched last August, Sateliot has amassed more than euro 270 million in contracts from a clientele spanning 50 nations. The company targets revenue growth reaching euro 1 billion by 2030.

Hyperion Fund contributed euro 10 million to this round, focusing on defense-related applications and reinforcing European security and Spanish technological sovereignty. The Spanish Society for Technological Transformation (SETT), a government-affiliated institution, added euro 13.8 million, and the European Investment Bank (EIB) committed a euro 30 million loan-its first to a Spanish space company.

The funding comes amid rising geopolitical tensions, which have prompted NATO members to increase defense expenditures. The European Union alone has initiated programs totaling up to euro 800 billion to bolster its strategic infrastructure. Sateliot is poised to benefit from more than euro 4 billion dedicated to satellite IoT and euro 10 billion earmarked for secure European communications.

This strategic investment supports Europe's push for technological sovereignty and independent operational capabilities. Hyperion Fund, managed by Singular Asset Management, is advancing its euro 150 million defense and aerospace investment strategy. Following extensive evaluations of over 200 firms, Hyperion is also exploring partnerships with NATO-aligned companies leading in fields such as artificial intelligence, robotics, geolocation, and photonics.

Hyperion's founding team includes Pablo Casado, Joaquin Ortiz, Jose Antonio Bartrina, Ricardo Gomez-Acebo, Daniel Lorrain, and recent additions Juan Munoz and Marina Quintero. Its advisory board features prominent figures such as former NATO Secretary General Anders Rasmussen, former US Under Secretary Paula Dobriansky, former French Defence Minister Michele Alliot-Marie, Jazztel founder Martin Varsavsky, ex-Saab Aero CIO Rob Murray, and former AWS cybersecurity head Ilan Leiferman.

Sateliot is helmed by CEO Jaume Sanpera, a veteran tech entrepreneur with eight startups under his belt, and CTO Marco Guadalupi, who previously led Eurona's satellite broadband initiatives.