IoT startup Skylo raises $103m Series B round led by SoftBank

Marco Green
January 23, 2020

Skylo's business is based on connecting Internet of Things (IoT) devices, including sensors, industrial equipment, logistics hardware and more, to satellite networks that use the cellular-based narrow-band IoT protocol.

The California-based firm had raised a $13-million Series A round in December 2017, which was co-led by DCM and Innovation Endeavors, besides Moore Strategic Ventures.

Tech firm Skylo on Tuesday said it has raised United States dollars 103 million (about Rs 730 crore) in funding from SoftBank Group and others.

Skylo makes affordable and ubiquitous network that connects any machine or sensors.

For this, the company leverages cellular Narrowband Internet of Things (NB-IoT) protocol.

Skylo's service will be commercially available later this summer, and the company said it is in commercial trials with users in the USA and other world regions for subsequent launches and market expansion.

Startup Skylo emerged from stealth mode January 21 with $116 million in the bank and plans to connect devices by transferring data over existing geostationary communications satellites.

Now Skylo says it will start to take NB-IoT worldwide using its satellite and low-priced hub system early in summer 2020, beginning in India.

The company claims that its technology can enable IoT connectivity enable operations in remote businesses, increase safety, drive economic development, job creation and also help in disaster preparedness.

In India, Skylo has successfully built and deployed a new technology to directly connect Indian Railway coaches and their sensors over satellite. The company is underway to manufacture Skylo Hub the product in bulk, however, the Skylo Network is already live with early customers.

Skylo has also developed a proprietary method of efficiently transmitting data; this technology minimizes satellite usage costs, a cost savings that is passed onto Skylo customers. "For fleets of trucks or fleets of fishing vessels, customers needed connectivity every five to 10 minutes".

The company describes itself as "building the most affordable and accessible network to mobilize the world's machine data". The company's current board of directors includes board chairman and former USA ambassador Terry Kramer, David Chao of DCM, Scott Brady of Innovation Endeavors, Harpinder Singh of Innovation Endeavors, and Skylo CEO Trivedi. Your network is already implemented in today's geostationary satellites, which means that your customers can get started without waiting for new satellites or constellations to be launched with dedicated technology. It has offices in San Mateo, Bengaluru and Tel Aviv. Its service will be commercially available later this summer and the company is in commercial trials with users in the USA and other world regions for subsequent launches and market expansion.

Other reports by Click Lancashire

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