Skylo Emerges From Stealth with $116M Funding Led by Softbank Group

Skylo, maker of the world’s most affordable and ubiquitous network that connects any machine or sensor, 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.

Skylo’s new satellite connectivity leverages existing geostationary satellites to bring reliable connectivity without the need to add new infrastructure in space. Skylo has successfully built and proven its end-to-end technology and completed successful commercial field trials with major enterprise and government customers. The company’s customers already include enterprise and government entities in a range of industries including automotive, railways, agriculture and maritime.

Skylo claims that its solution costs 95% less than existing satellite solutions, with connectivity starting at just $1 per user and hardware that costs less than $100. Skylo is the world’s most affordable satellite technology and will enable operations for remote businesses, increase safety, drive economic development and job creation, and help with disaster preparedness and response.