United States: Skylo Technologies raises $37 million for expansion efforts

Feb 15, 2024 | Posted by Abdul-Rahman Oladimeji

Direct-to-device satellite connectivity provider Skylo Technologies has raised $37 million from existing investors Intel Capital and Innovation Endeavours, and new backers BMW i Ventures, Samsung Catalyst, Next47, and Seraphim Space. This investment will help the company to expand its operations to better support smartphones, wearables, IoT devices, and mobile network operator customers.

Parth Trivedi, CEO and co-founder of Skylo said, "We're immensely proud to lead this new chapter in direct-to-device satellite connectivity, supported by an incredible consortium of investors. Their commitment helps make Skylo's standards-based service the default choice for the NTN ecosystem. This round accelerates our carrier partnerships and supports all top device makers adopting our standards-based solution."

Intel Capital's David Johnson, who has joined the Skylo board of directors, said, "As lead investors, we recognize the transformative potential of Skylo's scalable approach for 5G satellite-to-device communications. 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."