TAMPA, Fla. \u2014 Spanish startup FOSSA Systems has raised about $10.5 million to expand its connectivity constellation in a funding round that included a technology investment vehicle backed by Spain\u2019s government.<\/p>\n
The support from the Spanish Society for Technological Transformation (SETT) comes a year after the fund injected 14 million euros into Spain\u2019s Sateliot<\/a>, which is also developing a satellite connectivity network with security and defense applications.<\/p>\n Spanish private investment firm Kibo Ventures led FOSSA\u2019s funding round, the six-year-old venture announced June 24, bringing its total raised to date to nearly 20 million euros.<\/p>\n The proceeds will help fuel FOSSA\u2019s push beyond the tiny picosatellites it once used to connect low-power monitoring devices toward larger cubesats in low Earth orbit, enabling additional sovereign communications and space-based intelligence capabilities.<\/p>\n The company, which joined a NATO innovation accelerator in December to advance its dual-use commercial and government technologies, recently opened an office in Tokyo<\/a> in its first expansion outside Europe.<\/p>\n \u201cIn just a few years, we have gone from being a startup to an internationally present company with 25 satellites launched and technology that responds to real needs of industrial, institutional, and governmental clients,\u201d said Juli\u00e1n Fern\u00e1ndez, FOSSA\u2019s CEO and cofounder.<\/p>\n \u201cOur goal is to establish FOSSA as a European benchmark in sovereign space infrastructure.\u201d<\/p>\n FOSSA said its next satellite is scheduled for deployment in the coming weeks, as it ultimately plans a network of 140 spacecraft to connect remote Internet of Things (IoT) devices globally.<\/p>\n