Sateliot, a Barcelona-based builder of LEO satellite constellations, has launched a €100M ($117M) Series C funding round. The company enables unmodified commercial IoT devices and smartphones to connect directly via 5G NB-IoT NTN and D2D from space, extending terrestrial networks globally. The capital will fund 16 Gen-2 satellites to complete IoT coverage and demonstrate 5G NR voice, video, and data capabilities.
NTN Satellite Funding Heats Up
The raise follows OQ Technology securing $29.5M in March 2026 for 20+ LEO D2D satellites. Skylo launched a hybrid satellite-cellular-WiFi IoT module with Blues in the same month. Sateliot's funding accelerates its edge in Europe's sovereign 5G NTN infrastructure amid 3GPP standards maturity.
85% of Planet Lacks Coverage
Over 85% of the planet remains without reliable connectivity, hindering IoT in agriculture, maritime, mining, and defense. Traditional satellite IoT requires proprietary hardware and incurs high costs. Terrestrial networks fail in remote areas, leaving critical infrastructure vulnerable.
Standards Enable Unmodified Devices
Sateliot's Tritó satellites use 3GPP Rel-17 NB-IoT NTN for seamless direct-to-device connectivity without modifications. This contrasts with legacy providers like Iridium relying on custom modules. The constellation supports >1M messages per day with current orbital plane, scaling to full global roaming with MNO partners.
As CEO Jaume Sanpera noted:
"It is essential for Europe to have resilient and sovereign space-based communications."
Government Backs Dual-Use Tech
Existing investors Indra and Cellnex lead alongside government funds SETT and Sepides, holding 18.7% stake. Hyperion Fund adds defense expertise. This mix signals strategic validation for dual civil-military applications and EU digital sovereignty.
Satellite IoT Scales to Billions
The satellite IoT market stands at $1.49B in 2024, projected to reach $7.23B by 2033 at 19.5% CAGR. Skylo has raised $193M total by partnering operators rather than owning constellations. Astrocast ($70M) and Myriota ($80M) focus on proprietary protocols, trailing Sateliot's standards compliance.
Serial Founder Drives Satellite Scale
CEO Jaume Sanpera co-founded Eurona, Spain's first satellite broadband operator publicly listed on the stock exchange. CTO Marco Guadalupi brings 20+ years in satellite telecom and 3GPP NTN standards. Recent hires from Telenor IoT and Satellogic bolster constellation deployment.
Constellation Deployment Accelerates
Sateliot plans five more satellites in 2026 and a dedicated PLD Space MIURA 5 launch for two Tritó units in 2027. €270M in pre-contracts from 400+ clients across 60 countries fuel revenue to €500M in 2027. The Tech Portal enables device certification with partners like Nordic Semiconductor.