Skylo Tech Secures Funding for Direct-to-Device Sat Connectivity

Ibadan, 14 February 2024. – Skylo Technologies, a direct-to-device satellite connectivity service provider, has secured $37 million in a funding round co-led by Intel Capital and Innovation Endeavors. The round also enjoyed support from new investors, including BMW i Ventures, Next47, Samsung Catalyst Fund, and Seraphim Space. In addition, David Johnson of Intel Capital will be joining the board, bringing a wealth of experience and insight to fortify Skylo’s leadership team.

This new investment will expand Skylo’s scale and business operations to better support smartphones, wearables, IoT devices, and mobile network operator customers. It is a major step in Skylo’s commitment to making standards-based non-terrestrial networks (NTN) more accessible and efficient for numerous sectors, including consumer, automotive, agriculture, energy, transportation, and beyond. With this new capital, Skylo will also grow its team, enhance its marketing efforts and technological developments to bring online new capabilities, reach new verticals, and further its global footprint.

Skylo has launched its initial service across the US, Canada, and Europe, in partnership with major chipset makers, including Qualcomm, Samsung, MediaTek, and Sony, together with the world’s leading device OEMs and mobile carriers, such as Deutsche Telekom. Skylo has also successfully partnered with satellite operators to enable the service on dedicated, fully licensed spectrum and existing satellite assets.

Speaking on the investment, Parth Trivedi, CEO and Co-Founder of Skylo, said, “This round accelerates our carrier partnerships and supports all top device makers adopting our standards-based solution. 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.”