Skylo Raises $103M in Series D

Skylo has successfully raised $103M in a Series D at a $500M valuation led by SoftBank, Innovation Endeavors.

Company Overview

Skylo is a Satellite company headquartered in Mountain View, CA, founded in 2017 with 150+ employees.

Satellite-based connectivity for IoT devices globally

Fundraising Details

• Amount Raised: $103M
• Round Type: Series D
• Valuation: $500M
• Date: 2024-05-12
• Investors: SoftBank, Innovation Endeavors

About Skylo

Satellite-based connectivity for IoT devices globally The company is positioned in the Satellite sector, serving a growing market with innovative solutions.

Key Information

• Headquarters: Mountain View, CA
• Founded: 2017
• Team Size: 150+
• Industry: Satellite

What This Means

This funding round demonstrates strong investor confidence in Skylo's vision and execution. The capital will likely be used to:

• Scale Operations: Expand the team and operational capacity
• Product Development: Enhance existing products and develop new features
• Market Expansion: Enter new markets and strengthen presence in existing ones
• Technology Investment: Invest in infrastructure and technology capabilities

Industry Context

The Satellite sector continues to attract significant investment as companies innovate to meet evolving market demands. Skylo's successful fundraising reflects the strong fundamentals and growth potential in this space.

Valuation Milestone

Reaching a $500M valuation marks an important milestone for Skylo, positioning the company among notable players in the Satellite industry.

Looking Ahead

With this new capital, Skylo is well-positioned to execute on its growth strategy and continue building innovative solutions in the Satellite space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.

This fundraising news was reported on 2024-05-12. For more information about Skylo, visit their headquarters at Mountain View, CA.