Aussie start-up to launch 100 satellites
A constellation of nanosatellites will be launched by Fleet, after $5 million in Series A funding was provided for the venture.
The company is developing nanosatellite technology in partnership with some of the world’s leading aerospace engineers, and will launch the first of more than 100 planned satellites in 2018.
Once launched, the satellites will create a global network that will be free to use by sensors and devices worldwide.
“There is so much talk globally about the potential of connected devices, but little action being taken to make this chatter a reality,” said Fleet’s CEO and co-founder, Flavia Tata Nardini.
“We’re designing a technology infrastructure that will underpin the new industrial revolution. It will connect all corners of the globe to create a digital nervous system of devices.”
The company chose to launch in Australia as it is home to many of the industries that need this type of technology the most. Farmers, environmentalists, mining and oil engineers, and logistics professionals will all greatly benefit from the data and opportunities a switched-on planet produces.
“Our goal is for industries to use this technology to make real, tangible efficiency improvements to the ways they operate and address issues, be it measuring the effect of climate change on outer corners of the Great Barrier Reef or tracking important cargo like aid as it journeys across the Indian Ocean. This investment brings a global network of connectivity one step closer to reality,” Tata Nardini said.
Fleet was founded in Adelaide, Australia, in 2015 and was initially backed by matched seed funding from the South Australian Government. The size of Fleet’s nanosatellites means they can be produced at a fraction of the cost of traditional satellites. The Series A funds will be used to help build the business’s first nanosatellites and continue global expansion.
The funding was led by venture capital firm Blackbird Ventures, with co-investment from Atlassian’s Mike Cannon-Brookes, Earth Space Robotics and Horizon Partners in Silicon Valley.
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