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Skylo's latest satellite connectivity technology leverages existing geostationary satellites to offer reliable connectivity without having to invest in new space infrastructure. The company has successfully built and proven its end to end technology and has also achieved success in commercial field trials with major enterprise and government customers
Fremont, CA: Machine data connectivity startup Skylo raised USD 103 in a Series B funding round led by SoftBank Group. Previously the company raised USD 13 million in a Series A funding round jointly led by DCM and Innovation Endeavors, with participation from Moore Strategic Ventures. All existing investors participated in the Series B round of funding. Skylo is the world's first company to leverage the cellular Narrowband Internet of Things (NB-IoT) protocol via satellite, facilitating instant connectivity with billions of sensors on objects and machines located in remote areas.
The company aims to bring the instant, affordable, and ubiquitous Internet of Things connectivity to millions of machines, sensors, and devices, even in the most remote geographies. "Skylo envisions a world where connectivity for machines, sensors, and devices is as ubiquitous as the sky," said Skylo co-founder and CEO Parthsarathi 'Parth' Trivedi. "This low-cost, global fabric of connectivity for machine data will be transformative for entire industries."
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Skylo's latest satellite connectivity technology leverages existing geostationary satellites to offer reliable connectivity without having to invest in new space infrastructure. The company has successfully built and proven its end to end technology and has also achieved success in commercial field trials with major enterprise and government customers. "Skylo’s satellite technology creates an affordable way to connect more of the physical world to the internet, even in remote areas," said Yoshi Segawa, vice president at SoftBank Group International. "Skylo’s antenna technology and use of the narrowband internet of things protocol is revolutionary, and we look forward to working with the company in developing new use cases."
One of the company's highlights is cost-effectiveness. Skylo's technology solutions cost 95 percent lesser than existing solutions, with rates starting as cheap as USD 1 per user and hardware that comes less expensive than USD 100. This makes the company the world's most affordable satellite technology, enabling remote businesses to increase safety, drive economic development and job creation, and efficient disaster preparedness and response.
"Skylo lives up to the definition of a disruptive innovation with its low costs, it will enable millions of unconnected devices to experience the transformative effects of connectivity, saving lives, enhancing livelihoods and creating connections where they didn't exist before," said Skylo Board Chairman and former U.S. Ambassador Terry Kramer. "Skylo is a global game-changer." The company's existing customers include enterprise and government entities in a range of industries, including automotive, railways, agriculture, and maritime.
See also: Top IoT Solution Companies
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