Satellite Enxaneta draws new investment from state-backed funds as Sepides Management acquires a stake
Within the circle of shareholders around Satellite Enxaneta, the Catalonia Generalitat’s first nano-satellite venture, a notable development emerged from the state this Friday. Sepides Management has acquired a 4.69% stake in the Barcelona-based space technology firm. The buyer is a venture capital manager within Sepides Group, a component of the government’s framework for steering strategic investments. The unit responsible for managing aid to large enterprises hit by the covid impact, the Industry Participation Company, channels this investment through its portfolio vehicles.
The group paid 1.5 million euros for the minority holding in the Catalan company, which currently lists Indra as a near-controlling stakeholder with almost 10% and Cellnex at 3.13%. The transaction values the business at roughly 32 million euros. The acquisition was disclosed through a statement handled by Europa Press. Germina Capital Sepiit, another fund connected to the same group, operates as a catalytic vehicle intended to spark new investments that will benefit the company.
Sateliot, the enterprise pursuing a 250-nano-satellite constellation, seeks to deliver services that connect a broad range of devices to the internet, leveraging 5G technologies. The ambitious plan envisions a 300 million euro investment to realize this network. This infusion from public sources, via venture capital channels, aligns with the company’s broader strategy, complemented by a 640,000-euro loan arranged less than a month earlier. The loan is earmarked primarily to support the launch of Sateliot’s second nano-satellite within the year.
The business intends to begin commercial operations in 2023 and aims to reach 1 billion euros in revenue with 370 million euros in EBITDA by 2025. Jaume Sanpera, the chief executive officer, has indicated that the company already operates in Brazil, deploying satellite solutions for forest mass management, and maintains an active highway monitoring service in the United States to prevent sand movement in the southern regions of the country. These activities underscore Sateliot’s commitment to global expansion and practical, high-value applications for its satellite network.