Skylo Technologies, the leading direct-to-device satellite connectivity service provider, secured $37 million in funding co-led by Intel Capital and Innovation Endeavors. New investors include BMW i Ventures, Next47, Samsung Catalyst Fund, and Seraphim Space.
This new investment expands Skylo’s scale and business operations to improve support for smartphones, wearables, IoT devices, and mobile network operator customers. This is a major step in Skylo's commitment to making standards-based non-terrestrial networks (NTN) more accessible and efficient for numerous sectors, including consumer, automotive, agriculture, energy, transportation, and others.
Furthermore, with this new capital, Skylo will grow its team with the brightest minds in the industry, enhance its marketing efforts and technological developments to bring online new capabilities, reach new verticals, and further its global footprint.
We are delighted to have participated in this round and look forward to supporting Skylo in their journey.
Read the full press release here - https://www.skylo.tech/newsroom/skylo-technologies-raises-37-million-from-intel-capital-innovation-endeavors-bmw-i-ventures-samsung-catalyst-next47-seraphim-space
"We’re immensely proud to lead this new chapter in direct-to-device satellite connectivity, supported by an incredible consortium of investors. Their commitment helps make Skylo’s standards-based service the default choice for the NTN ecosystem," said Parth Trivedi, CEO and Co-Founder of Skylo. "This round accelerates our carrier partnerships and supports all top device makers adopting our standards-based solution.”
unknownx500
