Skylo Gets $116 M Funding for IoT-Satellite Network

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Skylo Gets $116 M Funding for IoT-Satellite Network

Skylo, who developed an affordable and ubiquitous network connecting machines and sensors, announced that the company acquired $ 116 million in total funding for IoT-Satellite Network.

Skylo had already raised $ 13 million in a Series A round, co-led by Debt Capital Markets (DCM), Innovation Endeavors, and Moore Strategic Ventures. The new Series B round raised $ 103 million, led by SoftBank Group joined by the existing investors.
Skylo plans to bring instant, affordable and ubiquitous IoT-connectivity to millions of machines, sensors and devices, even in the remote areas. They leverage the cellular Narrowband Internet of Things (NB-IoT) protocol via satellite, wich allows them to instantly connect sensors on objects and machines in remote areas. Skylo’s new satellite connectivity leverages existing geostationary satellites to bring reliable connectivity without adding new infrastructure in space. Skylo has completed successful commercial field trials with enterprise and government customers, among them companies in the fields automotive, railways, agriculture and maritime. They claim that they are able to offer their services at a very low price. Skylo expects use cases that are diverse and transformational for industry and government customers. Among them:

  • Mobilizing data for shipping and logistics – geographically ubiquitous connectivity allows real-time delivery updates, ensures integrity of temperature-sensitive deliveries, monitors maintenance schedules, and certifies safety compliance.
  • Improving agriculture crop health and productivity – farmers can optimize operations with real-time data about air temperature, moisture level or soil pH and get easier access to heavy equipment that is available for sharing from other owners.
  • Digitizing fisheries industry – 4.6 million fishing vessels can be connected, allowing fishermen to access life-saving two-way SOS communications, connect with their fleet operator, and access markets to transact their catch while still at sea.
  • Connectivity for passenger transportation systems – Railway systems, long-distance buses, and other vehicles can transmit vehicle health data for on-time performance and operational efficiency. and preventative maintenance alerts.

The companies end-to-end solution includes a Hub, a Network, a Data Platform and an API. Mass manufacturing is underway and the Network is already live with early customers.

Skylo lives up to the definition of a disruptive innovation — with its low costs, it will enable millions of unconnected devices to experience the transformative effects of connectivity — saving lives, enhancing livelihoods and creating connections where they didn’t exist before,

said Skylo Board Chairman and former U.S. Ambassador Terry Kramer.

IoT-Satellite Network: Skylo is a global game-changer

Skylo was founded in 2017 by CEO Parth Trivedi, Chief Technology Officer Dr. Andrew Nuttall and Chief Hub Architect Dr. Andrew Kalman. They have offices in San Mateo, Calif., Bangalore, India, and Tel Aviv, Israel. They plan to scale customer implementations first in India and other emerging markets, where it has already started implementing the technology in a range of industries. Their service will be commercially available later this summer. Currently, the company is in commercial trials with users in the U.S. and other world regions for subsequent launches and market expansion.

Author: Tim Cole
Image Credit: Skylo

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