KEY POINTS
- Silicon Valley space startup Skylo Technologies raised $37 million through an equity round led by Intel Capital and Innovation Endeavors and joined by the venture funds of BMW and Samsung, Skylo told CNBC.
- The company is pursuing the nascent “direct-to-device,” or D2D, satellite communications market.
- “We want ubiquitous connectivity. We just don’t want extra hardware, because that adds complexity,” Skylo CEO Parth Trivedi said.
Silicon Valley space startup Skylo Technologies landed funding from the corporate venture arms of Intel, BMW and Samsung, as the company aims to bridge the gap between satellite and terrestrial communications.
Skylo raised $37 million through an equity round, the company told CNBC, that was led by Intel Capital and Innovation Endeavors and joined by BMW i Ventures, Next47, Samsung Catalyst Fund and Seraphim Space. The raise brings Skylo’s total equity fundraising to $153 million, with prior investors including SoftBank and DCM.
Read the full blog here.
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