{"id":14427,"date":"2021-09-07T09:38:44","date_gmt":"2021-09-07T07:38:44","guid":{"rendered":"https:\/\/ggba.swiss\/satellite-iot-company-astrocast-goes-public-and-raises-chf-40-million\/"},"modified":"2023-07-04T13:40:20","modified_gmt":"2023-07-04T11:40:20","slug":"satellite-iot-company-astrocast-goes-public-and-raises-chf-40-million","status":"publish","type":"post","link":"https:\/\/ggba.swiss\/en\/satellite-iot-company-astrocast-goes-public-and-raises-chf-40-million\/","title":{"rendered":"Satellite IoT company Astrocast goes public and raises CHF 40 million"},"content":{"rendered":"\n<p>Founded in 2014, <a href=\"https:\/\/www.epfl.ch\/en\/\" target=\"_blank\" rel=\"noopener\">EPFL<\/a> spin-off <a href=\"https:\/\/www.astrocast.com\/\" target=\"_blank\" rel=\"noopener\">Astrocast<\/a> aims to create a low-cost global satellite network that specifically targets the coverage of maritime areas and emerging countries, areas that are poorly serviced by the existing cellular networks.<\/p>\n<p>Current cellular networks cover roughly only 10% of the Earth\u2019s surface, and low-power wide-area networks (LPWAN) cover only a fraction of this. More than 5 billion IoT devices are expected by 2025, and a rapidly growing part of these needs to be connected by satellite.<\/p>\n<p>Through its Nanosatellite IoT Network,\u00a0Astrocast is the first company to offer commercial access to L-band frequency for reliable and energy-efficient two-way IoT communications around the world.<\/p>\n<p><strong>100 satellites by the end of 2024<\/strong><\/p>\n<p>After <a href=\"https:\/\/ggba.swiss\/en\/epfl-spin-off-astrocast-launches-a-nanosatellite\/\" target=\"_blank\" rel=\"noopener\">launching a second nanosatellite\u00a0in 2019<\/a> and <a href=\"https:\/\/ggba.swiss\/en\/epfl-spin-off-astrocast-raises-chf-9-million\/\" target=\"_blank\" rel=\"noopener\">raising CHF 9 million<\/a> to accelerate the launch of its commercial constellation, the start-up located in Chavannes-pr\u00e8s-Renens (canton of Vaud) is now listed on <a href=\"https:\/\/live.euronext.com\/en\/product\/equities\/CH1122548808-MERK\" target=\"_blank\" rel=\"noopener\">Euronext Growth Oslo<\/a>.<\/p>\n<p>Prior to the listing, Astrocast offered new shares to investors and raised CHF 40 million in capital from investors, which include <a href=\"https:\/\/www.palantir.com\/\" target=\"_blank\" rel=\"noopener\">Palantir<\/a> and a syndicate led by US-based\u00a0<a href=\"https:\/\/www.aditventures.com\/\" target=\"_blank\" rel=\"noopener\">Adit Ventures<\/a>.<\/p>\n<p>\u201cThe fundraising and listing represent major steps for the company as we are now accelerating the deployment of our constellation. After a successful launch of five new satellites in late June this year, the company\u2019s current network comprises 10 operating satellites in orbit. We plan to increase this to a total of 100 satellites by the end of 2024.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Astrocast, the leading Swiss IoT- focused nanosatellite company, floated its shares on the\u00a0Euronext Growth market in Oslo. The listing marks\u00a0the first chance for investors to acquire shares in an IoT satellite constellation in a public market.<\/p>\n","protected":false},"author":3,"featured_media":14428,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"mc4wp_mailchimp_campaign":[],"footnotes":""},"categories":[839],"tags":[894,897,899],"class_list":["post-14427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech-en","tag-financing","tag-space","tag-sustainability"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Satellite IoT company Astrocast goes public and raises CHF 40 million - Greater Geneva Bern area<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.ggba.swiss\/en\/satellite-iot-company-astrocast-goes-public-and-raises-chf-40-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Satellite IoT company Astrocast goes public and raises CHF 40 million - Greater Geneva Bern area\" \/>\n<meta property=\"og:description\" content=\"Astrocast, the leading Swiss IoT- focused nanosatellite company, floated its shares on the\u00a0Euronext Growth market in Oslo. 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