Sateliot raises €116.9 million in Series C financing for LEO satellite constellation expansion

Spanish satellite firm Sateliot launched a €116.9 million ($116.9M) Series C financing round to fund the deployment of 16 additional low-Earth orbit (LEO) satellites, expanding its dual-use IoT satellite constellation. The round, structured primarily as equity with potential debt components, seeks up to 50% public co-financing to match private investments, with the Spanish government actively involved through institutional backing. Sateliot's 'New Radio' technology will enable voice, video, and data transmission via satellite, a late-market application in IoT, serving over 400 clients across 60 countries including major telecom operators like Telefónica and Deutsche Telekom. The company has already orbited six satellites, handling over one million store-and-forward messages daily, and plans to launch five more in 2026, with its 2nd-generation Trió widebeam satellite design scheduled for 2027 deployment. The financing round follows a €16.14 million Series B round in early 2025, which received $16.14 million from the Spanish Government, and brings total funding to over $100 million.

Counterparts (10)

Investor

Ó

Óscar López (Spanish minister for digital transformation and public administration)

company

Indra

company

Madrid-based global technology and consulting company specializing in digital transformation, transport, defense, and energy solutions. With over 56,000 employees, Indra provides critical technology and services for air traffic management, rail systems, smart cities, and energy grids worldwide.

S

Sepides (SEPI)

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F

Financial Settlement Center for Renewable Energy Sources LLP

company

Financial Settlement Center for Renewable Energy Sources LLP operates as a specialized financial intermediary, managing payment settlements for renewable energy generation assets.

Banco Santander

company · 1 deals

Banco Santander is a global bank with a presence in Europe and the Americas. It provides financial services to individuals, SMEs, and corporations.

H

Hyperion

company

Cellnex

company

Cellnex Telecom is a telecommunications infrastructure operator. They focus on the deployment of infrastructure for wireless telecommunications, broadcasting, and other wireless services.

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Global Portfolio Investments

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Lender

European Investment Bank (EIB)

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The European Investment Bank (EIB) is the European Union's multilateral financial institution, with a balance sheet exceeding €500 billion, providing long-term financing for infrastructure, climate action, and innovation projects primarily within the EU and partner countries.

borrower

S

Sateliot

company