Fleet Space Technologies Raises $26.4 Million in Series B Round to Fund IoT Nanosat Development

Internet of Things satellite (Credit: Fleet Space Technologies)
  • Fleet Space Technologies attracts $26.4m (USD) investment valuing company at $126m (USD)
  • Series B Round oversubscribed
  • Investment confirms confidence in Fleet Space advanced satellite technology 
  • Tech drives radical Internet of Things (IoT) efficiencies 
  • Investment is firm commitment to Australia’s rapidly emerging space industry  
  • Investment creates 70 new jobs, including many desirable STEM positions 

ADELAIDE, Australia (Fleet Space Technologies PR) — Fleet Space Technologies announces that it has secured $26.4m (USD) in investment, valuing the company at $126 million (USD). This represents a major step forward for Fleet Space Technologies, which is committed to creating the world’s most advanced low-power satellite network, securing planet-wide coverage for millions of compatible Internet of Things (IoT) devices by using its in-house Nanosatellite technology. This funding will underpin significant expansion in Fleet Space’s manufacturing footprint and will expand the company’s highly skilled workforce. 

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Fleet Space Technologies Raises $7.35 Million Round for Internet of Things

Credit: Fleet Space Technologies

BEVERLEY, South Australia (Fleet Space Technologies PR) — Fleet Space Technologies has raised USD$7.35 million (AUD$10.8 million) from global funds including Momenta Ventures and Horizons Ventures, to deliver ubiquitous Internet of Things (IoT) connectivity to remote industries, powered by a global constellation of nanosatellites.

Investors in the funding round also included Grok Ventures and Blackbird Ventures, who re-invested in the company, and the Kennard family, whose equipment hire company Kennards Hire, is a Fleet customer focused on digital transformation. The new funding will enable Fleet to meet the increasing demand for global deployments of private IoT networks, powered by its constellation of nanosatellites, across industries including logistics, resources and energy.

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