Satelles Raises $26 Million in Series C Funding
Satelles, a provider of satellite-based time and location services, raised $26 million in Series C funding. C5 Capital led the round, with participation from Iridium Communications and existing investors. This new investment brings Satelles’s total funding since the launch of its platform to $39 million and will help the company expand its sales and marketing efforts, broaden its partner network, and accelerate product development.
The Satellite Time and Location (STL) broadcast signal from Satelles aims to provide assured Poisition, Navigation, and Timing (PNT) across a range of applications and at scale. The STL broadcast service from Satelles is encrypted to thwart malefactors aspiring to spoof or otherwise disrupt the STL signal, which is delivered via the Low-Earth Orbit (LEO) satellite constellation operated by Iridium, an investor in this financing round.
“Today’s world runs on systems requiring trusted time and location information, and C5 Capital shares our commitment to make it a more secure and better place,” said Michael O’Connor, CEO of Satelles. “We are delighted that C5 led this latest investment round because they bring great insight into cybersecurity, and their international network is unparalleled.”