Skylo Rises From Stealth With $116M in Funding

The makers of most affordable network, Skylo Technologies announces $116 million in total funding, their vision is to construct a global fabric for machine data connectivity.

FREMONT, CA: The makers of the world’s most affordable and ubiquitous network, Skylo Technologies, has emerged from Stealth with $116 million in total funding. Earlier in a Series A round, they raised $13 million, DCM, and Innovation Endeavors co-led that series and was joined by Moore Strategic Ventures. The new Series B round is led by SoftBank Group and joined by all existing investors, and they have raised $103 million.

Skylo is the world’s first company to strengthen the cellular Narrowband Internet of Things (NB-IoT) protocol via satellite. It makes it possible to instantly connect billions of sensors on objects and machines in remote areas. It promises to bring the affordable, instant, and ubiquitous Internet of Things connectivity to millions of machines, sensors, and devices. The new satellite connectivity of Skylo empowers existing geostationary satellites to bring reliable connectivity without the need to add new infrastructure in space. Enterprise and government entities in a range of industries, including automotive, railways, agriculture, and maritime, are the customers of the company.

Skylo is considered as the world’s most affordable satellite technology because it costs 95% less than existing satellite solutions. It will enable operations for remote businesses, increase safety, drive economic development and job creation, and help with disaster preparedness and response.

Co-founder and CEO of Skylo Parthsarathi “Parth” Trivedi say that Skylo imagines a world where connectivity for machines, sensors, and devices is as omnipresent as the sky.

In 2017, CEO Parth Trivedi, Chief Technology Officer, Dr. Andrew Nuttall, and Chief Hub Architect Dr. Andrew Kalman founded the company. Board Chairman Terry Kramer, David Chao of DCM, Scott Brady of Innovation Endeavors, Harpinder Singh of Innovation Endeavors, and Skylo CEO Trivedi are the current Board of Directors. Skylo has offices in different countries, including San Mateo, Calif., Bangalore, India, and Tel Aviv, Israel.

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