Fleet Space Raises Capital for Nanosatellite Fleet Expansion

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By Harriet Sumnall | 4Q 2021 | IN-6365

 

Extra Capital Boosting Large Constellation Plans

NEWS


Australian based Fleet Space Technologies has raised US$26 million in their series B funding, with the aim of driving the expansion of their nanosatellite fleet for IoT connectivity. The satellite provider currently has six satellites in orbit, with the next launch in pursuit for early 2022—the next step in reaching the companies goal of 140 nanosatellites in Low Earth Orbit (LEO).

Small but Powerful: Why are Nanosatellites a Prime Choice for IoT Connectivity?

IMPACT


Satellite technologies is a great connectivity option suited for applications and devices in remote areas, but also for other IoT market segments including earth observation and fleet monitoring, since they offer coverage over the rural parts of the globe, where terrestrial network infrastructures are currently lacking. It is for this reason that the expansion of the network for Fleet Space is crucial, so that they can truly enter the competitive landscape of the IoT satellite connectivity market.

Having IoT nanosatellites in LEO orbit offers red…

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