Fleet Space Technologies raises $26.4M to support global satellite connectivity for IoT

Categories Connectivity  |  Edge Computing News  |  Funding
Fleet Space Technologies raises $26.4M to support global satellite connectivity for IoT

Fleet Space Technologies raised $26.4 million in a Series B funding round led by Artesian Venture Partners, Blackbird Ventures, Grok, and Horizons Ventures with the participation of new investors Alumni Ventures, Hostplus, the South Australian Venture Capital Fund (SAVC), and In-Q-Tel.

The fresh funds bring the total valuation of the company to $126 million. Fleet Space Technologies said it will use the investment to continue developing its advanced nanosatellite technology to improve efficiency in Internet of Things (IoT) applications.

“We are ready to scale and realize the full potential of IoT technology to secure planet-wide coverage of millions of industrial devices,” commented Fleet Space CEO Flavia Tata Nardini.

“This will save billions of dollars for organizations in lost value while preserving precious resources and reducing carbon emissions,” she added.

Fleet Technologies engineer with the firm’s Centauri 3 nanosatellite before launch in March 2021

Fleet Technologies engineer with the firm’s Centauri 3 nanosatellite before launch in March 2021.
Source: Fleet Technologies

Nardini’s point was echoed by Jonathan Meltzer, Partner at Alumni Ventures.

“Fleet Space Technologies has delivered on their promise to unlock the potential of the Internet of Things through their proprietary nanosatellite technology,” he said.

“We are proud to be part of an ambitious new growth phase that will widen Fleet’s satellite network and more broadly serve critical infrastructure in remote locations,” Meltzer added.

According to Hon. David Pisoni MP, Minister of Innovation and Skills, the investment not only represents an interest in Fleet Space Technologies but more broadly Australia’s growing space industry.

“In backing Fleet, the Marshall Liberal Government is supporting the creation of highly-skilled jobs in South Australia and plotting a trajectory towards the Australian Space Agency’s stated aims to build a $12 billion industry by 2030,” Pisoni concluded.

Fleet Space Technologies is not the only company in Australia working on IoT and edge technologies. Back on earth, Leading Edge Data Centers (LEDC) announced the construction of a new network of Tier III data centers in April 2021. Months later, leading car dealership JT Fossey, upgraded their telecommunications services by entering a deal with LEDC.

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