Skylo emerges from stealth with $116 million funding to build affordable satellite network for IoT data

IoT solutions provider Skylo Technologies has raised $103m in its recently held series B funding round led by SoftBank Group. Prior to this, the California-based firm raised $13m in Series A funding. Now as Skylo has accumulated a total funding of $116m till date, the company will aim to bring instant, affordable, and global IoT connectivity to millions of machines, sensors, and devices, even in the most distant geographies. Skylo also claims to be the world’s first IoT firm to leverage the NB-IoT protocol through a satellite, allowing it to instantly connect billions of sensors on objects and machines in remote areas. Its new satellite connectivity uses existing geostationary satellites to bring reliable connectivity without the requirement of adding new infrastructure in space.