Astrocast operates a global nanosatellite network that delivers low‑power wide‑area IoT connectivity for monitoring and tracking remote assets across transportation & logistics, oil & gas, utilities, mining, forestry, agriculture, and maritime. The company leverages superior L‑band spectrum through a strategic alliance with Thuraya and developed the Astronode S ultra‑low‑power miniaturised module in partnership with Airbus, CEA/LETI and ESA. Astrocast’s network enables companies to monitor, track, and communicate with remote assets from anywhere in the world. As part of the new agreement, Astrocast will extend technical cooperation with Thuraya for four years and collaborate on new products and applications while leveraging Thuraya’s distribution network to expand its customer ecosystem. Financially, Thuraya has agreed to invest via a US$17.5 million convertible loan to support Astrocast’s expansion in satellite IoT. The investment is positioned to accelerate execution of Astrocast’s strategy in the low‑power narrowband IoT market. Astrocast builds and operates a Nanosatellite IoT Network to enable tracking, measurement, management, communication and control of IoT assets in very remote regions. The company says current cellular networks cover roughly 10% of the Earth’s surface and anticipates growing satellite connectivity demand as more than 5 billion IoT devices are expected by 2025. Astrocast’s network comprised 10 operating satellites after a late‑June launch of five new satellites, and the company plans to expand to 100 satellites by the end of 2024 to meet demand. To support capacity increases it is accelerating deployment of its constellation and planning a substantial increase in network capacity. Financially, Astrocast raised CHF 45 million in a placement of new shares prior to its listing and subsequently listed on Euronext Growth Oslo. Existing shareholders named in the article include Airbus Ventures, Verve, DAA and several Swiss family offices. Astrocast builds a low-cost, low-latency nanosatellite network for IoT applications, partnering with ESA, Airbus and Thuraya. Its planned constellation comprises 64 CubeSats configured in eight planes of eight satellites in polar orbit to enable global two-way coverage. The network operates on L‑Band, offering high reliability in all weather and a maximum latency of 15 minutes. Astrocast targets maritime, environmental, mining, and oil & gas monitoring use cases and provides secure connectivity to IoT devices worldwide. The company is preparing to launch its ultra-low power Astronode S terminal early next year and offers competitive data plans and pricing. Marine Instruments, a major bidirectional satellite IoT customer, has joined as a strategic investor following close involvement in Astrocast’s pilot program. Astrocast develops and operates a LEO nanosatellite network and IoT modules to provide energy-efficient two-way L-band IoT communications. The company has launched two test satellites that have completed full system tests and begun pilot trials with Actia, Marine Instruments and Swiss Fresh Water. Astrocast partners with Thuraya, the European Space Agency and Airbus and has co-developed a low-cost, power-efficient ASIC and module for satellite IoT modems. It plans a 64-CubeSat constellation to deliver low-latency global coverage. Financially, Astrocast closed a CHF 9M Series A and has raised CHF 16.6M to date, and also received a CHF 500,000 FIT Growth loan. The company says it will use the capital to accelerate IoT module production, deploy its network and enter commercial service targeting a commercial launch in Q1 2020. Astrocast (formerly Else SA) is developing a 64-unit Low Earth Orbit nanosatellite constellation designed to provide global, unlimited coverage for IoT and machine-to-machine services. The satellites will collect data, deliver it to ground stations, and distribute access to customers via a secure internet gateway. Target sectors cited include smart agriculture, automotive, transportation & logistics, utilities, maritime, and oil & gas. The company plans a demonstration mission to launch the first two nanosatellites into LEO in mid-2018 to validate operations. Astrocast is Vaud-based and has established partnerships and relationships with the European Space Agency, Thuraya, and Airbus Ventures. Its current financing profile includes a $4.1M seed round plus $3M in grant financing through Swiss grants and the ESA ARTES program.

Total raised

$81M

Funding rounds

7

Latest round

Convertible Note

Latest activity

Apr 2023