Australian satellite startup Fleet Space Technologies has raised a $7.35 million round of funding to help launch its next generation of nanosatellites, extremely small satellites it employs to deliver Internet of Things (IoT) connectivity to customers globally.
Fleet’s satellites are roughly the size of shoe boxes, which are much cheaper and easier to launch than traditional geocommnications satellites, and the company intends to use a globe-spanning constellation of these in order to serve needs like tracking construction equipment assets, monitoring pipelines and other utility infrastructure and more.
Already, Fleet has launched four of its nanosatellites to orbit on a number of different rockets, including an Indian Space Research Organization (ISRO) rocket, a Rocket Lab launch and via SpaceX . Its existing fleet is only a very small part of its planned constellation, but already the startup says it has witnessed “unprecedented demand” from more than three million compatible devices registered to join their network.
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