India, April 13 -- Sateliot, an European satellite telecommunications company, has announced the launch of a new 100 million Euros Series C financing round to support the deployment of its satellite constellation. The round, primarily structured as equity with the option of an additional debt component, has recently opened and is expected to close in the summer. The company is seeking a lead investor and has kept the round open to both new and existing shareholders. It also anticipates up to 50% public co-financing through match funding.

The capital will be largely allocated to the deployment of 16 satellites intended to support Internet of Things (IoT) use cases and serve as a demonstrator for 5G New Radio technology, including voice, v...