Total amount raised
$183 Millions
Latest funding date
02/01/2025
Location
Skylo has successfully raised funding through multiple rounds, with its latest round closing on February 27, 2025. The company is backed by 11 investors, including The Westly Group and Intel Capital.
Skylo's innovative approach to satellite connectivity has attracted significant investment, reflecting confidence in its potential to revolutionize global communication. Keep reading to explore the intricacies of Skylo's fundraising journey and the investors backing this pioneering platform.
What Is Skylo?
Skylo, founded in 2017, is a global non-terrestrial network provider based in Mountain View, California. The company offers satellite connectivity for smartphone and IoT devices, ensuring seamless communication even in remote areas.
Skylo's innovative technology allows devices to connect directly over existing satellites, providing reliable and affordable connectivity. The company collaborates with satellite operators, network operators, and device makers to offer a comprehensive solution that roams between terrestrial and satellite networks.
Founded by Andrew Kalman, Andrew Nuttall, Parthsarathi Trivedi, and Tarun Gupta, Skylo employs between 101 and 250 people. Their mission is to ensure that users never lose coverage, regardless of their location.
How Much Funding Has Skylo Raised?
- Series A
- Amount Raised: $13M
- 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 solutions.
- Series B
- Amount Raised: $103M
- Date: January 2020
- Lead Investors: SoftBank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series C
- Amount Raised: $37M
- Date: February 2024
- Lead Investors: Innovation Endeavors, Intel Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support technological advancements and market expansion.
- Venture Round
- Amount Raised: $30M
- Date: February 2025
- Lead Investors: NGP Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Skylo's commercial coverage to new regions and enhance market reach.
Total Amount Raised: $183M. Current Valuation: Not publicly disclosed.
Key Investors
- NGP Capital
- Details: NGP Capital is a global venture capital firm that backs early-stage B2B companies from Series A onwards. They have over $1.6 billion in assets under management and have invested in over 100 companies, of which 18 became unicorns and 11 went on to IPO.
- Investment Focus Areas: Enterprise software, industrial tech, cybersecurity, edge and data infrastructure.
- Notable Investments: Tractian, Xona Space Systems, The Exploration Company, Lime.
- Innovation Endeavors
- Details: Innovation Endeavors is a venture capital firm that invests in visionary founders, transformational technology, and emergent ecosystems. They aim to support companies that are creating new markets and redefining industries.
- Investment Focus Areas: Visionary founders, transformational technology, emergent ecosystems.
- Notable Investments: Not specified in the provided sources.
- Intel Capital
- Details: Intel Capital is the strategic investment arm of Intel Corporation. They invest in innovative technology startups and companies worldwide.
- Investment Focus Areas: AI, cloud, IoT, technology startups.
- Notable Investments: Not specified in the provided sources.
- SoftBank
- Details: SoftBank is a multinational conglomerate holding company. They are known for their significant investments in technology and innovation.
- Investment Focus Areas: Technology, energy, financial sectors.
- Notable Investments: Not specified in the provided sources.
- DCM Ventures
- Details: DCM Ventures is a venture capital firm that invests in early-stage technology companies. They focus on supporting innovative startups with the potential for significant growth.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not specified in the provided sources.
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's partnership with Viasat enables it to offer seamless satellite connectivity, which is crucial for areas lacking reliable cellular coverage. This expansion opens up a vast market, given that 85% of the planet still lacks dependable cellular service.
With the recent $30 million oversubscribed funding round, Skylo is well-positioned for future fundraising opportunities. The strong investor confidence, demonstrated by the participation of high-profile investors like NGP Capital and Intel Capital, suggests that additional funding rounds are likely as Skylo continues to scale its operations and technology.
However, Skylo faces challenges such as competition from other satellite service providers and the technical complexities of integrating satellite and terrestrial networks. Regulatory hurdles in different countries also pose potential obstacles. Despite these challenges, Skylo's innovative approach and strategic partnerships position it well for continued growth and success in the direct-to-device satellite connectivity market.
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