Apple and Globalstar Announce Satellite-Enabled Service
On September 7, Apple Inc. announced that its new iPhone 14 will feature custom-built components and specific software to offer a satellite-enabled emergency messaging service supported by Globalstar, Inc. (Globalstar), whereby the mobile phones will be able to connect directly to the Globalstar satellite communications network when outside the coverage of cellular networks. Globalstar stated that 85% of its network capacity will be dedicated to support this service as a priority.
September Fundraising Activity
September 1 – OQ Technology, a start-up with plans to develop a global 5G Internet of Things satellite constellation focused on serving enterprise customers in the oil & gas industry, announced that it raised €13m in a Series A investment round led by Wa’ed Ventures, the venture capital arm of Saudi Arabian Oil Company, and Phaistos Investment Fund, which is managed by 5G Ventures.
September 2 – India-based launch services start-up Skyroot Aerospace Pvt Ltd announced that it concluded a $51m Series B funding round led by GIC India Direct Investment Group.
September 7 – Earth observation company Albedo Space Corp. announced that it raised $48m in a Series A investment round co-led by Breakthrough Energy Ventures and Shield Capital, bringing to $58m its total funding raised to date.
