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BMW, Samsung, Intel back satellite connectivity startup Skylo with $37M
Skylo Technologies, a direct-to-device satellite connectivity startup, has raised $37 million in its latest funding round, with investment from the corporate venture arms of BMW, Samsung and Intel.
The latest round brings Skylo’s total funding to $153 million, with previous investments from SoftBank and DCM.
Skylo said the funding is a “major step” in its expansion plans.
The funds will be used to expand its scale and operations and advance its mission of making non-terrestrial networks more accessible for businesses across sectors, including consumer, automotive, agriculture, energy and transportation.
“We’re immensely proud to lead this new chapter in direct-to-device satellite connectivity, supported by an incredible consortium of investors,” said Parth Trivedi, Skylo’s CEO. “This round accelerates our carrier partnerships and supports all top device makers adopting our standards-based solution.”
To read the complete article, visit IoT World Today.
