Skylo Raises $37M for Direct-to-Device Connectivity
Skylo’s executive team. From left: Dr. Andrew Kalman, Dr. Andrew Nuttall, Parthsarathi Trivedi, and Tarun Gupta. Photo: Skylo
Direct-to-device satellite connectivity company Skylo Technologies has raised $37 million in funding, co-led by Intel Capital and Innovation Endeavors. New investors BMW i Ventures, Next47, Samsung Catalyst Fund, and Seraphim Space contributed funding as well.
Skylo is a non-terrestrial network (NTN) service provider that works with existing satellite operators, network operators, and device makers to enable direct-to-device connectivity. The company works with global chipset companies and module makers to certify their devices on Skylo’s network to enable satellite-based connectivity without hardware updates. Compatible devices can “roam” onto Skylo’s network when they are outside of cellular coverage, as the network uses connectivity via partner satellites.
Skylo said it will use these funds to scale its business operations to better support smartphones, wearables, IoT devices, and mobile network operator customers. The company plans to grow its team, marketing efforts, and technological developments.
“We’re immensely proud to lead this new chapter in direct-to-device satellite connectivity, supported by an incredible consortium of investors. Their commitment helps make Skylo’s standards-based service the default choice for the NTN ecosystem,” said Parth Trivedi, CEO and co-founder of Skylo. “This round accelerates our carrier partnerships and supports all top device makers adopting our standards-based solution.”
With Intel Capital’s investment, Managing Director David Johnson is joining Skylo’s board.
Explaining the investment in Skylo in a blog post, Intel Capital said Skylo has done an incredible job using existing infrastructure to build its service. Skylo does not operate its own satellites. Intel Capital believes Skylo can deliver services to mass market devices “at previously unheard of price points.”
“As lead investors, we recognize the transformative potential of Skylo’s scalable approach for 5G satellite-to-device communications,” said David Johnson, managing director at Intel Capital. “We’ve been impressed with the extensive industry ecosystem support they’ve received in delivering a complete end-to-end connectivity service for high volume device categories at low cost.”
Skylo previously raised a $103 million Series B round in 2020 led by Softbank.