Startup FOSSA Systems secures funding to boost global IoT satellite network

FOSSA Systems, a Spanish startup, secures funding to expand its satellite-based IoT network globally for improving communication for industries like agriculture and logistics.

| Updated on: Nov 16 2023, 18:45 IST
NISAR mission: Know all about NASA and ISRO’s satellite mission
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1/5 The Indian Space Research Organisation (ISRO) has another major mission lined up called NISAR or  NASA-ISRO Synthetic Aperture Radar mission which will be conducted in collaboration with NASA. The mission aims to study climate change and the impact of natural disasters.  (NASA/JPL)
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2/5 The NISAR mission will be studying Earth's global carbon cycle and climate change with the help of two radar frequencies, L-band and S-band. The satellite will conduct an in-depth study on natural disasters and how they impact the environment as well as the Earth's surface. It will collect the smallest measurements and details about our climate. (NASA/JPL)
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3/5 The NISAR mission will also be studying the forest and wetland ecosystems from where the majority of greenhouse gases are produced. Studying their impact will enable scientists and policymakers to take corrective actions. (NASA/JPL)
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4/5 According to NASA, the mission will be equipped with an L-band synthetic aperture radar, a high-speed data communication system, GPS receivers, a solid-state recorder, and a payload data subsystem provided by NASA. ISRO is responsible for providing the spacecraft bus, the S-band radar, the launch vehicle and all the required launch services. (Pixabay)
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5/5 As per reports, NISAR in every 12-days will conduct a scan on Earth’s land and ice surfaces which will help researchers to study the absorption and release of carbon gases. The overall scientific data will help prepare countries to combat natural disasters or reduce their impact. (Pixabay)
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FOSSA Systems secures funding to expand global IoT satellite network, paving the way for innovation and connectivity in remote areas. (Pexels)

FOSSA Systems, a startup that uses satellites to connect devices through the Internet of Things (IoT), revealed on Wednesday that it successfully raised an undisclosed amount of new funding. The funding round was led by Indico Capital Partners and Nabtesco Technology Ventures, joined by existing investor Newmind Venture. The company, based in Spain, plans to use the funds to expand its network of low-power satellites, enabling improved communication on Earth. Julian Fernandez, co-founder and CEO of FOSSA Systems, stated, "We aim to strengthen our industrial satellite and IoT services while extending our reach globally," Payload reported.

The Potential of IoT

The Internet of Things is a crucial technology for industries like agriculture, manufacturing, and logistics. FOSSA Systems aims to enhance communication by placing low-power satellites in space, allowing various devices to exchange information efficiently. This technology enables quick data collection and problem identification with minimal human intervention.

Traditional IoT solutions often struggle to cover remote rural areas, hindering operations in agriculture and shipping and logistics sectors. To address this, satellite companies are launching satellites into space, aiming to provide scalable technology that can reach every corner of the planet.

Stephan Morais, managing general partner at Indico Capital, expressed optimism about the transformative potential of IoT, particularly in ocean communications, climate monitoring, shipping, and logistics. He believes that this investment in FOSSA Systems will drive innovation and sustainability in the Blue Economy, opening new opportunities for growth and conservation efforts.

About FOSSA Systems

FOSSA Systems, established by Julian Fernandez in 2018, is a Spanish scaleup that offers cost-effective and secure IoT solutions through satellite connectivity. Originally founded as a non-profit organization with the goal of democratizing access to space and promoting IoT adoption, FOSSA Systems envisions widespread use of satellite-enabled IoT through interoperable and standardized connectivity.

In its mission to provide global IoT communication, even in areas lacking mobile coverage, FOSSA Systems delivers competitive connectivity solutions in sectors such as agriculture, farming, energy, infrastructure, communications, defense, and cybersecurity.

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First Published Date: 16 Nov, 18:45 IST