Sateliot, a space company advancing a low-Earth orbit satellite constellation, is positioning its network to deliver 5G-enabled Internet of Things (IoT) connectivity. The firm has secured a 6 million euro loan from Banco Santander to continue refining its technology and expanding its satellite constellation. Sateliot announced the financing in a formal statement and outlined plans to initiate its commercial phase by launching four satellites within the year.
The Santander loan is part of a broader program that supports high-growth companies. Representatives from Sateliot highlighted Santander as a key ally and emphasized the lender’s role in accelerating the company’s development. The startup notes that it already has binding agreements with leading global telecommunications operators and other sector players, with a robust order book valued at more than 150 million euros. Jaume Sanpera, Sateliot’s CEO and co-founder, commented that the closing of these three deals demonstrates substantial confidence from major banks, regional public administrations, venture capital groups, family offices, and business angels. He added that these collaborations form a strategic partnership aimed at delivering a national project that could position Spain as a pioneer in a 5G-IoT constellation.
In the previous November, Avançsa, a commercial entity associated with the Generalitat’s Business Administration Department, provided Sateliot with a 2.5 million euro participation loan. Sateliot has designed two of the three nanosatellites linked to the Generalitat’s service contracts to date, and a fourth satellite is now undergoing the contracting process.
With the combined 2.5 million euro loan from Avançsa, the 6 million euro facility from Santander, and a 5 million euro convertible note deployed by Sateliot, the company reported a strengthened financial position and capital raise of 13.5 million euros in the previous year. The management team framed this capital infusion as enabling Sateliot to approach 2024 with reliable financial capacity to execute its business strategy and to signal confidence to investors and stakeholders across the aviation and technology sectors. Major shareholders cited include Indra with a 10.5% stake, Cellnex at 3.5%, and Sepides, a SEPI-affiliated business group controlling a 5% share, underscoring broad ownership across strategic tech, defense, and infrastructure players.