Fleet Space Technologies raises $7.35m in funding for satellite IoT connectivity

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Fleet Space Technologies, an Australian satellite startup, has raised £5.95m in funding to help launch its next-generation of nanosatellites, which aims to deliver IoT connectivity to customers around the world.

The satellites, which are similar to the size of shoeboxes, are said to be inexpensive and much easier to launch compared to traditional geocommunication satellites.

The company is planning to use a globe-spanning constellation of its nanosatellites to cater to tracking construction equipment assets, monitoring pipelines and other utility infrastructure and much more. The company already has four of its nanosatellites to orbit on a couple of rockets,

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