A quartet of Sateliot low Earth orbit satellites launched late last week, advancing the company’s plans to offer standards-based 5G IoT connectivity and potentially bolstering ongoing efforts to raise €30 million in a Series-B funding round.

Sateliot’s satellites launched on a Space X Falcon 9 rocket, which took off from a site in the US state of California late on 16 August. The IoT player’s CEO stated the launch brings it a step closer to generating revenue: the company previously targeted a commercial launch in the second half of the year.

Sanpera said the launch propels Sateliot “into a new phase of development”, along with positioning its home market of Spain “as a global leader in IoT connectivity”.

The company previously announced the latest satellites would take its current constellation to six.

Sateliot is seeking to differentiate its 5G NB-IoT NTN service by employing GSMA- and 3GPP-standards. It believes there are opportunities to eliminate not-spots for small- to medium-sized enterprises, public administrations and large businesses in the agricultural, livestock and logistics sectors.

The company stated current orders mean it will initially connect more than 8 million devices once the service goes live. In March, Sateliot stated it had 350 customers and anticipated generating revenue of €1 billion by 2030, a target it reiterated in the latest announcement.

Sateliot noted it plans to launch more satellites in 2025 as it moves to beef-up its global coverage.