Latest News

After launching five new satellites, Astrocast eyes Direct Stock Market listing

Astrocast, a nanosatellite network is seeking $54 million in a private placement ahead of a direct listing on the stock market. The move comes after the company launched five new satellites on the SpaceX Falcon 9 rocket.

Known for developing tiny satellites that deliver internet access to all types of devices, Astrocast has become one of the most advanced nanosatellite IoT Networks available in the world at this point of time. It is also the first Swiss telecom satellite operator.

The company’s objective is different from Elon Musk’s Star Link Satellite service that aims at offering high-speed internet to the users. Astrocast is primarily focused on putting up a constellation of tiny satellites, connecting various devices, a potential key to making the Internet of Things (IoT) work well.

After the launch of two pilot satellites in 2018 and 2019, the company has boosted the power and performance of its nanosatellites over the time. Today, Astrocast’s nanosatellites have 100 times more communication speed and onboard storage.

Astrocast is backed by venture capital firm Adit Ventures, Airbus SE’s venture arm and the European Space Agency. In 2021, the company attracted funding from global investment firm Boundary Holding, led by Rajat Khare after making a significant progress in a brief period. At that time, Astrocast was on a look out for funding partners and Boundary Holding supported the company’s vision by realizing its potential.

Having launched back to back satellites and taken decent strides ever since, Astrocast is now planning a direct listing of 30-40 per cent of its shares in the third quarter. The company intends to list on Euronext NV’s exchanges for small and mid-sized companies. It also aims to get about 100 satellites into the orbit by 2024.

“Business is global, but connectivity is not and that’s a huge issue,” said Astrocast Chief Executive, while talking about the recent development.

“We can extend that coverage, and we are providing IoT firms a way to keep communication active even in remote areas, regardless of where the asset is, be it the North Pole or the middle of a desert or ocean.” he added.

Astrocast delivers the most comprehensive nanosatellite constellations in the market. It’s network features include low-latency communications from assets, global L-Band spectrum, two-way communication, and more. The company is keen to explore more possibilities and make a defining contribution in the coming time.

Umesh Agarwal

Umesh Agarwal, a founding member of Credit 101 LLC (https://www.thecredit101.com/) | An established entrepreneur, credit guru, and mentor, is no exception to the young thinkers who wandered through the idea of being your own boss and escaping the shackles of micromanagement. What separated him from the rest of the aspiring millionaires is how his ideas fueled his life to action. Umesh studied Engineering in India; eventually moved to Texas and completed his Masters of Science in Engineering.

Share
Published by
Umesh Agarwal

Recent Posts

Website Optimization: How To Leverage LinkedIn And Heatmap Tools

LinkedIn is a great place to find out what people in your industry are doing,…

2 hours ago

Here is everything you need to know about cognitive behavioural therapy and CBT worksheets!

Cognitive-behavioral therapy, aka CBT, is a renowned psychological therapy used across the globe. It is…

5 hours ago

5 Reasons Why Physicians Need Disability Insurance

As a physician, you may be wondering if you really need disability insurance. After all,…

7 hours ago

Taxi Rental in Goa

Traveling to Goa by air? Wondering how to get around once you're there? In this…

8 hours ago

A guide on how to download TikTok videos for free

So, you've heard about the new kid on the block - TikTok. It's taken over…

9 hours ago

Everything You Need to Know About the Node JS Development Company

Node js is a development company that provides custom development and involvement in the whole…

13 hours ago