Sateliot’s secures €6M for 5G IoT Nanosatellite Network

Spanish company Sateliot has secured 6 million euros from Banco Santander for its 5G NB-IoT nanosatellite constellation, bringing its total funding to 13.5 million euros. The company is looking to launch the world’s first low-earth orbit nanosatellite constellation based on the 5G standard, enabling seamless integration of terrestrial cellular telecommunications with satellite connectivity. This technology allows commercial devices to connect inexpensively to satellites, opening possibilities for IoT deployments in remote areas. Sateliot plans a Series B funding round to finance 250 nanosatellites, with 64 set to launch in the next 18 months.