Insider Brief
- The European Investment Bank has signed a €30 million venture debt agreement with Sateliot to accelerate the deployment of Sateliot’s low Earth orbit satellite constellation, aimed at delivering global 5G narrowband internet of things connectivity.
- The loan is backed by InvestEU, an EU initiative designed to mobilize public and private investment for strategic goals, including digital transformation and European autonomy in critical sectors.
- Sateliot plans to establish a network of over 100 satellites functioning as mobile telecom towers in orbit.
The European Investment Bank (EIB) has signed a €30 million venture debt agreement with Sateliot, a Barcelona-based satellite communications company. This funding will accelerate the deployment of Sateliot’s low Earth orbit (LEO) satellite constellation, aimed at delivering global 5G narrowband internet of things (5G-NB-IoT) connectivity.
As announced by Sateliot, the company plans to establish a network of over 100 satellites functioning as mobile telecom towers in orbit. The service will expand IoT coverage to underserved areas, including remote regions, oceans, and rural zones. The project targets a range of industries, such as agriculture, fisheries, and environmental monitoring, while also supporting security applications like border control and critical infrastructure surveillance.
The loan is backed by InvestEU, an EU initiative designed to mobilize public and private investment for strategic goals, including digital transformation and European autonomy in critical sectors. This initiative aligns with the EIB Strategic European Security Initiative, which prioritizes connectivity and security projects across Europe.
Sateliot’s CEO, Jaume Sanpera, highlighted that this funding complements the company’s existing financial support from private investors and institutions. Revenue generation is expected to commence in 2025 with the launch of four satellites already in orbit.
This funding represents a broader trend in EIB’s commitment to Europe’s “New Space” sector. Since 2020, the Bank has financed several leading space startups, including Spire Global, D-Orbit, and Gomspace, with a total investment exceeding €90 million. The EIB also collaborates with the European Commission on initiatives such as the Space Finance Lab, providing advisory services and connecting space companies with investors.
Image credit: Sateliot
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