SoftBank invests $116mn in Skylo Technologies

Skylo Technologies has recently announced its latest rounds of investments. The startup raised $13mn through its Series A funding round from Doll Capital Management (DCM), Innovation Endeavors, and Moore Strategic Investors.

The startup also announced that through its Series B funding it has raised $103mn from SoftBank Group and existing investors.

The San Mateo-based startup was founded by Parthsarathi Trivedi, Andrew Nutall and Andrew Kalman in 2017. Its current Board of Directors includes former US Ambassador Terry Kramer, David Chao from DCM, Scott Brady and Harpinder Singh from Innovation Endeavors and Skylo CEO Parth Trivedi.

The company aims to bring instant, affordable and ubiquitous Internet of Things (IoT) connectivity to machines, sensors, and devices, even in remote geographies. The company also claims to be the world’s first startup leveraging the cellular Narrowband Internet of Things (NB-IoT) protocol via satellite.

“Skylo envisions a world where connectivity for machines, sensors, and devices is as ubiquitous as the sky. This low-cost, global fabric of connectivity for machine data will be transformative for entire industries,” said Skylo’s Co-founder and CEO Parthsarathi Trivedi.

The company caters its services enterprises and government entities in a range of industries such as automotive, railways, agriculture, and maritime. The company’s USP is that its services cost 95percent less than the existing satellite solutions with connectivity at just $1 per user.

Skylo has offices in San Mateo, California, Bengaluru and Tel Aviv in Israel. It is well understood that the company will use these funds to grow its team globally and provide support to its fast-growing customer base.

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