Sateliot secures €100m to launch 5g satellite constellation

Barcelona-based Sateliot is poised to significantly expand its low Earth orbit (LEO) satellite network, fueled by a €100 million Series C funding round. The Spanish company, specializing in 5G connectivity via satellite, announced the financing during a visit from Spain’s Minister for Digital Transformation and Public Service, Óscar López, signaling a strong endorsement from the Spanish government.

Ambitious expansion plans

The round, primarily equity-based with potential debt inclusion, is currently open to new and existing investors and anticipates closure by summer. Sateliot is actively seeking a lead investor and projects up to 50% public co-financing, underscoring the strategic importance of this initiative for Spain's digital sovereignty. The injected capital will be primarily allocated to the deployment of 16 additional satellites, completing Sateliot’s IoT use case coverage and serving as a demonstrator for 5G New Radio Technology—integrating voice, video, and data capabilities.

Having already launched six satellites and planning five more by 2026, Sateliot is pushing forward with a clear vision. But what’s truly remarkable is the pre-contract value of €270 million already secured, boasting a client base of over 400 across 60 countries. Partnerships with telecommunications giants like Telefónica and Deutsche Telekom further validate the commercial viability of Sateliot’s approach.

The company has already amassed nearly €100 million since its inception, drawing backing from a diverse group of industrial, institutional, and financial investors, including Indra, Cellnex, Sepides (SEPI), Banco Santander, the Spanish Technological Transformation Society (SETT), Hyperion, and Global Portfolio Investments. The European Investment Bank (EIB) has also provided crucial early-stage funding, supporting both the initial Technology deployment and the company’s overarching growth strategy.

Minister López’s statement – “Sateliot is an example of Spanish and European digital sovereignty. The Spanish Government is proud to finance a Catalan project that integrates the entire satellite design, assembly, and control cycle made in Spain” – isn’t mere political rhetoric. It reflects a national commitment to bolstering domestic technological capabilities in a critical sector.

Jaume Sanpera, Sateliot’s CEO, emphasized that this Series C round represents “the dimension and moment of the company,” adding that it will “accelerate the deployment of our constellation and the execution of commercial activity on a global scale.” He’s betting on the continued support of industrial, financial, and institutional investors to solidify a European 5G satellite connectivity infrastructure. And with a pre-contract pipeline exceeding the funding round itself, Sateliot's trajectory suggests a future where ubiquitous satellite connectivity isn't a distant prospect, but a rapidly approaching reality.

Beyond the headline: a european space play

While the €100 million figure grabs attention, the deeper story lies in Sateliot’s role in shaping Europe’s strategy for independent 5G connectivity. The reliance on foreign satellite providers introduces vulnerabilities; Sateliot represents a calculated move towards self-sufficiency, fueled by both public and private investment. The company’s participation in NASA’s Artemis II mission further solidifies its position as a key player in the burgeoning space economy.