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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”.

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.

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