FOSSA, a Spanish IoT satellite company, has closed a new funding round worth 9.25 million euros ($10.5 million) to fund international expansion and global deployment of its sovereign satellite capabilities. The funds will be used to strengthen the team, boost the commercial expansion launched in 2024, advance new capabilities focused on security and defense, and continue deploying its constellation of Low-Earth Orbit (LEO) satellites.
Kibo Ventures led the funding round with participation from the Spanish Society for Technological Transformation (SETT, entity affiliated with the Ministry for Digital Transformation and the Civil Service), Space Frontiers Fund II (with SPARX Asset Management Co., Ltd. As Manager), Indico Capital and WISeSAT.
The company has launched over 25 satellites and is targeting a constellation of 140 satellites. Its next launch in the coming weeks, will be the 26th satellite in its constellation. FOSSA develops its own technological infrastructure for satellite IoT connectivity, secure communications, and space-based intelligence solutions (SIGINT), with applications in energy, logistics, agriculture, critical infrastructure, and national security.
“In 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. Our goal is to establish FOSSA as a European benchmark in sovereign space infrastructure,” Julián Fernández, CEO and co-founder of FOSSA, said in a statement.
