Skylo Technologies secures $37 million in funding round led by tech industry heavyweights
Skylo Technologies, a satellite connectivity service provider, secures $37 million in funding co-led by Intel Capital and Innovation Endeavors. Among the new investors are BMW i Ventures, Next47, Samsung Catalyst Fund and Seraphim Space. David Johnson from Intel Capital has also joined the board.
According to Skylo, the recent investment expands Skylo’s scope to support smartphones, wearables, IoT devices and mobile network operators. The company emphasizes that the investment bolsters non-terrestrial networks across consumer, automotive and agriculture sectors.
Parth Trivedi, CEO and co-founder of Skylo believes that the new investor backing has positioned Skylo’s standards-based service as the default choice within the NTN ecosystem.
“This round accelerates our carrier partnerships and supports all top device makers adopting our standards-based solution,” explains Trivedi.
With the cash injection, Skylo says it will expand its team, boost marketing, develop technology, tap into new markets and expand globally.
David Johnson, the managing director at Intel Capital, also acknowledges the transformative possibilities of Skylo’s scalable 5G satellite-to-device communications strategy.
“Since our first meeting with Parth and the team, we’ve been impressed with the extensive industry ecosystem support they’ve received in delivering a complete end-to-end connectivity service for high volume device categories at low cost,” adds Johnson.
Scott Brady, the founding partner at Innovation Endeavors, additionally believes that Skylo’s technology will be pivotal in influencing the future of worldwide communication and connectivity.
Skylo says terrestrial mobile carriers can leverage its network for cost-effective direct-to-device connectivity without altering behavior or sacrificing spectrum. The company has also established a network of OEMs, carriers and supply chain partners to launch the service.
Skylo has rolled out its service in the US, Canada, and Europe, collaborating with chipset companies like Qualcomm, Samsung, MediaTek, Sony, top device manufacturers and mobile carriers like Deutsche Telekom.
Skylo Technologies, based in Mountain View, CA, is a global NTN service provider enabling connections for smartphones and IoT devices via existing satellites.
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