FOSSA Systems funding news – Space Tech Startup FOSSA Systems Secures €6.3 Million in Series A Round Funding

Together with Newmind Venture and Sabadell Venture Capital, Indico Capital Partners and Nabtesco Technology Ventures spearheaded the fundraising.

The establishment of FOSSA's 80-satellite direct-to-device communications network, which will enable clients to safely follow and monitor their remote assets, as well as the expansion of its IoT satellite constellation centred on remote asset management for industrial use cases, will be facilitated by this capital transaction.

Read also - Wind funding news – Venture Capital Firm Wind Secures €90 Million of it’s First Closes of Fund

FOSSA has a long history in space, having launched 17 nanosatellites into orbit since 2022, demonstrating its capability for Internet of Things connectivity. Customers worldwide will be able to communicate with low latency thanks to the entire constellation.

Julián Fernández, CEO and Co-Founder of FOSSA said, “We’re thrilled to strengthen our satellite IoT offering as a commercial service and consolidate our nanosatellite technology at the core of our business model. This investment will drastically accelerate FOSSA’s time to market and consolidate our position as a dominant satellite IoT solution provider,”.

Because businesses still rely on expensive legacy satellite operators and terrestrial carriers that cover just 20% of the Earth, the Internet of Things market has not kept up with the explosive rise of broadband satellite communications. For maximum performance and quick reaction to unforeseen events, industries like forestry, agriculture, resource extraction, logistics, energy, and defence need dependable, low-cost data sources.

Additionally, the IoT satellite constellation from FOSSA promises to support sustainable projects in energy, aquaculture, ocean monitoring, and effective cargo routing—all of which are generally challenging to access for monitoring and maintenance—in far offshore areas. With the worldwide IoT market expected to increase 20% yearly through 2030 and potentially reach $4 billion, FOSSA is well-positioned to address this expanding need.

Stephan Morais, Managing General Partner at Indico Capital Partners, added: “We look forward to supporting FOSSA through the Indico Blue Fund. Their solution addresses a critical need for IoT connectivity in remote areas, in a world where reliable monitoring and tracking of assets is greatly valued, namely in the ocean.”

About FOSSA Systems

A company called FOSSA Systems specialises in developing satellites that are used in industrial applications to offer low-power Internet of Things technology for complete remote asset management solutions. FOSSA has experience with ground stations, terrestrial IoT devices, and the design, development, and operation of satellite platforms.