The largest pre-seed ever raised by a Portuguese-based space startup 🚀
connected, the Portuguese startup on a mission to make universal, standardised, sustainable and affordable NB-IoT connectivity from space a reality, has secured a €2M funding round, co-led by Shilling VC, Iberis Capital and FundBox, with significant contributions from Amena Ventures, angel investor Keith Willey and Octopus Ventures, which leads one of the largest and most active investment funds in Europe.
With this investment, we will expand our team and accelerate the development of our proprietary technology, whose first tests in space are expected to be carried out by the end of 2024.
The demand for space-based connectivity is growing, driven by the exponential growth of IoT devices in off-grid regions. Projections indicate that the number of IoT devices demanding satellite-based connectivity will exceed 21 million worldwide by 2026. This growth has exposed the fact that approximately 80% of the planet lacks mobile cellular coverage, leaving over 450 million people disconnected from the grid and limiting the potential of many businesses.
To address this challenge, we are developing a proprietary, autonomous and scalable payload system designed to be seamlessly integrated into third-party satellites in Low Earth Orbit, ensuring a unique and sustainable service.
Learn more at www.connected.space
📰 Check out the news here:
– ECO | https://lnkd.in/dxCFBK3x
– Observador | https://lnkd.in/dTK2QngU
– Jornal Económico | https://lnkd.in/dBedJPJJ