Momenta Ventures Leads $7.35M Series A Investment in LoRaWAN Satellite Connectivity Provider Fleet Space

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Momenta Ventures has closed a Series A investment in Fleet Space Technologies, a satellite connectivity company building ubiquitous connectivity to IoT devices everywhere on Earth.
Fleet’s technology provides digital transformation opportunities for previously unconnected industries, especially those that operate mostly in remote areas such as Energy, Shipping & Logistics, Mining and Agriculture.
Fleet’s technology makes it possible for the first time to accurately track assets across thousands of kilometers, managing heavy equipment at remote mine sites, to monitoring major pipelines and utilities, all powered by its constellation of shoebox-sized nanosatellites.
Fleet’s LoRaWAN®-based gateway (The Portal) makes it simple and easy to deploy a standard LoRaWAN® network anywhere in the world while also providing edge processing capability and satellite backhaul for remote locations.
This investment is one of the first out of Momenta Ventures’ second fund, the LPWAN Ecosystem Fund, intended to accelerate innovative industry solutions powered by Low Power Wide Area Networks with a focus on open standards and ecosystems such as LoRaWAN®.
Flavia Tata Nardini, CEO and Co-founder of Fleet Space Technologies says: “We’re now living in a commercial space age that is fundamentally changing how we do things on Earth.
With the latest support from Momenta and Horizons, we’re expanding operations to transform industries through our technology.
Patrick Poon, Director of Horizons Ventures says about Fleet, “The advent of new communications technologies like 5G and nanosatellites will enable massive worldwide adoption of Internet of Things devices globally for the first time.
We are excited to see how Fleet’s technology and constellation of satellites can become crucial to bringing the possibilities of the IoT to the far reaches of the globe.”
Schedule a short call to learn more about our Connected Industry Venture practice and our two fund

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