Total amount raised
$183 Million
Latest funding date
02/01/2025
Location
Skylo has successfully raised funding over four rounds, with the latest being a Venture - Series Unknown round. The company is backed by 11 investors, including The Westly Group, Intel Capital, and NGP Capital as the lead investor in the most recent round.
Skylo's innovative platform offers global non-terrestrial network services, enabling smartphone and IoT devices to connect directly over satellites. Keep reading to explore the intricacies of Skylo's fundraising journey and the investors backing this cutting-edge platform.
What Is Skylo?
Skylo is a global non-terrestrial service provider based in Mountain View, California. The company specializes in enabling smartphone and IoT devices to connect directly over satellites, ensuring uninterrupted coverage.
Operating in industries such as Information Technology, Internet of Things, Satellite Communication, Telecommunications, and Wireless, Skylo employs between 51-100 people. Their innovative platform leverages the 3GPP Rel-17 standard to offer services like sensor data, SMS, and upcoming voice call capabilities.
How Much Funding Has Skylo Raised?
- Series A
- Amount Raised: USD 13,000,000
- Date: December 2017
- Lead Investors: DCM Ventures, Innovation Endeavors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch Skylo's initial satellite connectivity services.
- Series B
- Amount Raised: USD 103,000,000
- Date: January 2020
- Lead Investors: SoftBank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Skylo's service offerings and scale operations globally.
- Series C
- Amount Raised: USD 37,000,000
- Date: February 2024
- Lead Investors: Innovation Endeavors, Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance market reach and accelerate the global commercialization of Skylo's services.
- Series Unknown
- Amount Raised: USD 30,000,000
- Date: February 2025
- Lead Investors: NGP Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale Skylo's direct-to-device satellite service worldwide and expand commercial coverage to new regions.
Total Amount Raised: USD 183,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- NGP Capital
- Details: NGP Capital is a global venture capital firm that invests in growth-stage technology companies. It is primarily backed by Nokia and focuses on democratizing access to mobile connectivity and other tech-driven solutions.
- Investment Focus Areas: Technology, mobile connectivity, digital transformation, cybersecurity, edge and data infrastructure.
- Notable Investments: Xiaomi, Deliveroo, Lime.
- Innovation Endeavors
- Details: Innovation Endeavors is a venture capital firm that invests in startups leveraging deep tech to solve big problems. The firm is known for backing companies that are at the forefront of technological innovation.
- Investment Focus Areas: Deep Tech, Artificial Intelligence, Robotics, Data Science.
- Notable Investments: Uber, SoFi, Plenty.
- Intel Capital
- Details: Intel Capital is the venture capital arm of Intel Corporation. It invests in technology startups and companies worldwide, focusing on areas that align with Intel's strategic interests.
- Investment Focus Areas: Technology, Artificial Intelligence, Cloud Computing, Cybersecurity.
- Notable Investments: Red Hat, VMware, Cloudera.
- SoftBank
- Details: SoftBank is a Japanese multinational conglomerate holding company. It is known for its aggressive investment strategy in technology and telecommunications sectors.
- Investment Focus Areas: Technology, Telecommunications, Internet of Things, Artificial Intelligence.
- Notable Investments: Alibaba, WeWork, Uber.
- DCM Ventures
- Details: DCM Ventures is a venture capital firm that invests in early-stage technology companies. The firm has a strong presence in the U.S., China, and Japan.
- Investment Focus Areas: Consumer Internet, Software, Fintech, Mobile.
- Notable Investments: KakaoTalk, SoFi, Bill.com.
What's Next for Skylo?
Skylo's future is brimming with opportunities as it expands its commercial coverage to new regions like Brazil, Australia, and New Zealand. The company is poised to leverage the vast market potential, with 85% of the planet still lacking reliable cellular coverage. This expansion, coupled with integration into major Tier-1 smartphones and partnerships with mobile network operators, positions Skylo to provide critical connectivity solutions for smartphones, vehicles, and IoT devices.
Given the strong investor interest demonstrated by the recent $30 million oversubscribed funding round, Skylo is well-positioned for future fundraising opportunities. The involvement of high-profile investors like NGP Capital, Intel Capital, and BMW i Ventures suggests a promising outlook for additional investment rounds. As Skylo continues to demonstrate its technological advancements and expand its market reach, it is likely to attract further investment and possibly engage in strategic acquisitions to enhance its capabilities.
However, Skylo will face challenges along the way, including competition from other satellite service providers and technical hurdles in integrating satellite connectivity with existing mobile networks. Regulatory issues in different countries and ensuring a seamless user experience across diverse environments will also be critical. Despite these challenges, Skylo's innovative approach and strategic partnerships position it well for continued growth and success in the satellite connectivity market.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Skylo and gather other critical business insights.
Sign up for free to start transforming your sales strategy today.
