India, March 26 -- Sateliot, a company specialising in Low Earth Orbit (LEO) satellite connectivity under the 5G standard for the Internet of Things (IoT), is in the final stage of a €70 million Series B financing round. This follows a €13.8 million investment from the Spanish Society for Technological Transformation (SETT), a body under the Spanish government, which was approved today by the Council of Ministers.

The funding will support the development of a constellation of over 100 satellites, designed to provide real-time connectivity in areas without signal coverage. This infrastructure is expected to facilitate applications in defence, security, logistics, and critical infrastructure management.

With this latest invest...