Sateliot, a Barcelona-based satellite startup, is seeking to expand an ongoing fundraising round to raise as much as €150 million (about $172 million), according to multiple reports. The target is roughly 50% higher than the €100 million round the company announced in April. Sateliot uses a network of low-Earth orbit satellites to provide connectivity services and says the additional funding will support further deployment.
The company plans to launch 16 more satellites over the next year as part of its expansion. Its goal is to offer direct connectivity to smartphones, with services positioned as 5G delivered from orbit, rather than relying solely on terrestrial telecom infrastructure. Both outlets frame the fundraising as enabling scale-up of the satellite constellation and related service rollout.
Sateliot’s plans are described as targeting broad availability in the coming years, with the company outlining an expectation that the service roadmap will progress into early 2028. The reports do not indicate the final amount raised or specific investors, but they consistently describe the funding expansion and the intended shift toward smartphone satellite service.
