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Europe Internet of Things Satellite Communication Telecommunications

IoT satellite network startup Hiber secures €26M in funding round led by EU’s innovation agency

– European satellite and communications startup Hiber BV secured €26m in funding.
– The funding comes from the European Innovation Council Fund (EIC Fund), the EU’s innovation agency, which has a €278m Innovation Fund.
– The EIC co-invested with an innovation credit provided by the Dutch government and existing shareholders.
– Other investors include Finch Capital, Netherlands Enterprise Agency and Hartenlust Group.
– Hiber’s satellite constellation tracks and monitors machines and devices in harder-to-reach places.
– Co-founder of Hiber Laurens Groenendijk is to step aside as managing director to turn his attention to “other investment initiatives”.

Source
Information Technology Internet North America Satellite Communication

ABL Space raises $170MM growth equity round led by T. Rowe Price funds

– ABL Space Systems has closed a Series B investment round of $170m.
– The round was led by funds and accounts advised by T. Rowe Price Associates, Inc.
– Participation in the round included existing ABL investors and new investments by Fidelity Management & Research LLC and an unnamed third global investment management firm.
– ABL is the emerging space launch company based in El Segundo, California developing the 1,000-kilogram class RS1 launch vehicle and GS0 deployable launch system.
– A first launch of RS1 is planned later in 2021, after less than four years of rapid development.
– With GS0, RS1 can be transported in shipping containers and launched from any suitable location in the world.

Source
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