Spain puts €13.8m into Sateliot
March 27, 2025
Spanish satellite builder Sateliot is in the final stages of a Series B financing round tonraise €70 million, and helped by the Spanish government-backed Spanish Society for Technological Transformation (SETT) which is putting €13.8 million into the business.
The funds will be invested in a constellation of over 100 satellites – critical infrastructure designed to ensure real-time connectivity in areas without signal coverage. This will enable strategic applications across defense, security, logistics, and critical infrastructure management sectors. In essence, Sateliot is offering IoT connectivity over standard 5G devices.
Sateliot has already launched six satellites into orbit, with the latest four launched in August—marking a major milestone as the company prepares to begin commercial service in 2025, generating recurring annual revenues.
The cash infusion means that Sateliot has achieved some €58.8 million of its €70 million target.
As part of its Series B round, Sateliot has also secured a €30 million debt injection from the European Investment Bank (EIB)—marking the EIB’s first venture debt operation in the space sector. This support further strengthens Sateliot’s role in developing sovereign telecommunications infrastructure when both NATO and the EU call for increased defense spending and enhanced space capabilities.
The company currently holds €270 million in contracts with over 400 customers across 50 countries. With this foundation, Sateliot aims to reach €1 billion in revenue by 2030.
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