Spanish startup FOSSA Systems has raised approximately $10.5 million to expand its connectivity constellation, with a technology investment vehicle backed by Spain's government joining the funding round.
The round will support the deployment of additional small satellites designed to provide Internet of Things (IoT) connectivity and narrowband communications, targeting sovereign and commercial customers seeking independent infrastructure.
FOSSA's constellation aims to offer secure, low-latency links for remote monitoring, logistics, and defense applications, reducing reliance on foreign satellite networks.
The Spanish government's participation underscores a growing push among European nations to develop domestic space capabilities. The investment vehicle, managed by state-linked entities, typically targets technologies deemed strategically important.
While the funding marks a significant vote of confidence, the startup faces stiff competition from larger players like SpaceX's Starlink and Eutelsat's OneWeb, which already operate extensive constellations with broader service offerings.