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Skylo Emerges From Stealth With $116M in Funding and World’s Most Affordable Satellite Network for IoT Data

January 21, 2020 / IoT.Business.News
SHARESHARESHARE

Skylo, maker of the world’s most affordable and ubiquitous network that connects any machine or sensor, today announced that the company has emerged from Stealth with $116 million in total funding.The company previously raised $13 million in a Series A round that was co-led by DCM and Innovation Endeavors, and joined by Moore Strategic Ventures. The new Series B round raised $103 million, led by SoftBank Group and joined by all existing investors. Skylo will bring instant, affordable and ubiquitous Internet of Things connectivity to millions of machines, sensors and devices, even in the most remote geographies. It is the world’s first company to leverage the cellular Narrowband Internet of Things (NB-IoT) protocol via satellite, making it possible to instantly connect billions of sensors on objects and machines in remote areas.