Sateliot is in the final stage of a Series B financing round of €70 million after the €13.8 million investment of the Spanish Society for Technological Transformation (SETT)-dependent on the Spanish government-, which has been approved by the Council of Ministers.
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 applications across defence, security, logistics and critical infrastructure management sectors.
With this transaction, which marks another step forward in the Spanish company’s growth and technological advancement, Sateliot progresses toward closing its Series B financing round, having secured €58.8 million of the €70 million target.
SETT’s injection follows Global Portfolio Investments’ contribution of €10 million and a convertible note of €5.2 million. In this way, these investors become part of Sateliot’s hard-core shareholders, including Indra, Cellnex and Sepides, which are key players in the fields of telecommunications, defence and security, reinforcing its potential as a key player in Europe’s digital and technological sovereignty.
In this context, the company continues to attract key national and international backers who are confident in its technological capabilities and unique position in Europe, reinforcing the strength of its founders’ strategy to promote a “country project” on the global stage.
EIB support
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 European Union (EU) call for increased defence spending and enhanced space capabilities.
According to Jaume Sanpera, the CEO and co-founder of Sateliot, “The confidence shown by SETT and other institutional investors confirms that Sateliot is Europe’s answer to the growing need for secure, accessible and autonomous satellite connectivity—essential for critical applications in civil, security and defence sectors.”
Constellation deployment
Sateliot has already launched six satellites into orbit, with the latest four launched in August—marking a step as the company prepares to begin commercial service in 2025, generating recurring annual revenues.
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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