Sateliot, the Spanish satellite telecommunications startup, is significantly expanding its current fundraising ambitions. The company is now seeking to raise as much as €150 million ($172 million), representing a 50% increase over previous targets.
Expanding Direct-to-Device Capabilities
The primary driver behind this capital injection is Sateliot's strategic shift toward offering satellite connectivity directly to standard smartphones. This move places the company in a high-growth sector alongside major industry players aiming to eliminate cellular dead zones using low-Earth orbit (LEO) constellations.
By securing these additional funds, the Barcelona-based firm intends to accelerate the deployment of its satellite fleet and refine the technology required to bridge the gap between orbital infrastructure and everyday mobile devices without the need for specialized hardware.
