EIB Supports Sateliot with €30 Million Loan for Global Connectivity
The European Investment Bank (EIB) has granted a €30 million loan to Spanish startup Sateliot to co-finance the deployment of its constellation of over 100 Low Earth Orbit (LEO) satellites. The Barcelona-based company is at the forefront of the European New Space industry, emphasizing private-sector-led innovation in space exploration and commercialization.
Sateliot’s satellite network will offer 5G-NB-IoT connectivity to over 8 million devices in remote, underserved regions, including oceans. This initiative will allow traditional mobile operators to extend their IoT networks to regions where ground-based connectivity is unavailable.
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Enabling Connectivity Across Sectors
Partially funded by the EIB, the project will improve the EU’s space connectivity and support affordable IoT-based services. These solutions will help agriculture, fisheries, maritime, livestock, environmental monitoring, fire control, protected areas, and security applications like surveillance.
Robert de Groot, EIB Vice-President said, "This loan shows the EIB’s commitment to innovation and development in the European space sector, thereby supporting the digital transition and contributing to the European Union's strategic autonomy in areas of space and global connectivity in the context of the EIB Strategic European Security Initiative."
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Accelerating the European New Space Ecosystem
The funding strengthens Europe’s New Space ecosystem and supports Sateliot’s satellite network expansion, with commercial services expected by 2025. The EIB funds Europe’s space industry, supporting initiatives like InnovFin Space Equity Pilot and CASSINI for early-stage companies. The bank provided €90 million in venture debt to Spire, Sateliot, and others, marking a milestone for Spanish New Space.
In addition to financing, the EIB collaborates with the European Commission to provide advisory services like the Space Finance Lab. It also supports research, as seen in its co-authored 2022 report on global navigation satellite system investments with the European Union Agency for the Space Programme (EUSPA).
In 2024, the EIB, ESA, and European Commission strengthened their partnership through an agreement to enhance cooperation in space.
