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- Skylo
Skylo Funding, Investors & Competitors
Skylo has raised $183M across 4 funding rounds, most recently a $30M undisclosed-stage round in February 2025.
Last Skylo funding round
$30M
Undisclosed stage · Feb 2025
Cumulative funding Skylo raised
$183M
across 4 funding rounds
Key investors in Skylo
Innovation Endeavors
Intel Capital
DCM Ventures
N47
BMW i Ventures
Moore Strategic Ventures
Samsung Catalyst Fund
SoftBank Group
About Skylo
Skylo Technologies is a Palo Alto-headquartered direct-to-device satellite connectivity provider enabling IoT and smartphone integration via non-terrestrial networks. Compliant with 3GPP Release 17 standards, its cloud-native NTN vRAN platform connects devices to geostationary satellites operated by partners like Viasat and Intelsat. Launched commercially in 2023, Skylo supports roaming between cellular and satellite coverage for automotive telematics and asset tracking.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Skylo Funding History
Skylo has raised a total of $183M across 4 funding rounds.
Skylo's first fundraising round was a $13M Series A in December 2017. The most recent completed round was a $30M undisclosed-stage round in February 2025.
Skylo funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2025 | Undisclosed stage | NGP Capital (lead); N47; The Westly Group; Samsung Catalyst Fund; BMW i Ventures; Intel Capital | $30M | Skylo Technologies is a Mountain View, California-based company providing commercially available direct-to-device (D2D) satellite connectivity, enabling seamless integration for smartphones, IoT devices, vehicles, and other endpoints over non-terrestrial networks without specialized hardware. The platform leverages a 'standards-plus' technology stack compatible with 3GPP standards, allowing standard cellular devices to connect directly to satellites for global coverage in areas lacking terrestrial networks. Skylo has launched services across multiple continents, recently expanding commercial coverage to Brazil, Australia, New Zealand, the contiguous US, Alaska, Hawaii, and US territories through partnerships like Viasat. On February 27, 2025, Skylo announced a $30 million oversubscribed funding round, led by NGP Capital, with participation from Westly Group and existing investors including Intel Capital, BMW i Ventures, Samsung Catalyst Fund, and Next47 (also referred to as N47). This Series Unknown round brings Skylo's total funding to $183 million across four rounds, following a $37 million raise in 2024 that increased prior total to $153 million. The funds are earmarked for scaling global D2D satellite services, market expansion, international go-to-market activities, and doubling the team size from 77 employees. NGP Capital highlighted Skylo's leadership in the emerging D2D space, noting it operates one of the world's first commercial solutions at significant scale with millions of consumers connected. The company has introduced its service on major Tier-1 smartphones and partner carriers, positioning it ahead in democratizing ubiquitous mobile connectivity. Skylo was named a finalist in the Global Space Awards 2025, underscoring industry recognition. |
| Feb 2024 | Series C | Innovation Endeavors (lead); Intel Capital (lead); N47; Seraphim Space IT; Samsung Catalyst Fund; BMW i Ventures | $37M | Skylo Technologies is a direct-to-device (D2D) satellite connectivity provider that aggregates capacity from multiple satellite operators like Echostar, Ligado Networks, and TerreStar on L-band and S-band spectrum, without owning satellites. It enables standards-based non-terrestrial network (NTN) services for smartphones, wearables, IoT devices, vehicles, and supports mobile network operators as a roaming partner. Initially focused on narrowband IoT applications like cattle tracking, Skylo has expanded to global coverage in 35 countries across five continents, recently adding Brazil, New Zealand, and Australia. On February 13, 2024, Skylo raised $37 million in a Series C funding round co-led by Innovation Endeavors and Intel Capital, with participation from BMW i Ventures, Next47 (N47), Samsung Catalyst Fund, and Seraphim Space. The funds are designated to scale business operations, grow the team, enhance marketing, advance technological developments, and accelerate carrier partnerships and commercialization for consumer, automotive, agriculture, energy, and transportation sectors. Intel Capital's David Johnson joined the board, highlighting Skylo's use of existing infrastructure for mass-market device services at competitive price points. Skylo has built an ecosystem with OEMs, carriers, and supply chain partners, including certifications for Sony Semiconductor's NB-IoT chipsets and partnerships like Blues for affordable satellite data connectivity without usage fees. It launched native SMS over satellite globally in January 2024 and won the GLOMO 2024 award for Best Non-Terrestrial Network Solution. The company faces competition from Apple (emergency services via Globalstar), Starlink, and AST SpaceMobile, but differentiates through data-constrained SMS/messaging on standards-based services. A subsequent $30M round occurred in February 2025 led by NGP Capital to further expand D2D services. |
| Jan 2020 | Series B | SoftBank Group (lead); Innovation Endeavors; Moore Strategic Ventures; DCM Ventures | $103M | Skylo Technologies is a satellite IoT connectivity provider enabling direct-to-device connections for sensors, machines, and devices in remote areas across industries like agriculture, fishing, railways, logistics, and utilities using Narrowband IoT protocol over geostationary satellites. The company emerged from stealth in January 2020 with a $103 million Series B funding round led by SoftBank, with participation from existing investors DCM Ventures and Innovation Endeavors (via Eric Schmidt’s Innovation Endeavors), and Moore Strategic Ventures, bringing total funding to $116 million after a prior $13 million Series A in 2017. The Series B funds were intended to expand Skylo's service offerings, scale operations globally, and develop initial satellite connectivity services, with the network already deployed on existing geostationary satellites for immediate customer use without waiting for new launches. Skylo highlighted real-world tests with commercial partners in fisheries, maritime logistics, automotive, private enterprise, and government, claiming connectivity costs as low as $1 per seat and hardware under $100, offering up to 95% savings over other satellite IoT solutions. Skylo continued raising funds post-2020, including a Series C in 2024 and additional $30M in 2025, reaching over $183M total funding, focusing on global direct-to-device satellite service expansion. |
| Dec 2017 | Series A | DCM Ventures (lead); Innovation Endeavors (lead); Moore Strategic Ventures | $13M | Skylo Technologies raised $13 million in a Series A round in December 2017 led by DCM Ventures and Innovation Endeavors, with participation from Moore Strategic Ventures. The funding supported the development and launch of Skylo's initial satellite connectivity services. Skylo, spun out of Stanford University’s Space Systems Development Laboratory in 2017, builds an IoT hub and satellite transceiver using off-the-shelf cellular components to aggregate data from sensors and transmit it to the cloud at lower costs than existing systems. The technology enables connectivity in remote areas for industries like agriculture, fishing, railways, logistics, and utilities. Skylo emerged from stealth later with a $116 million total, including a $103 million Series B led by SoftBank, alongside the original Series A investors. The company targets a global machine data connectivity market exceeding 1 billion devices. |
Who has invested in Skylo?
11 investors have backed Skylo across its funding rounds, including Innovation Endeavors, Intel Capital, DCM Ventures, N47, BMW i Ventures and Moore Strategic Ventures.
Lead investors include NGP Capital, Innovation Endeavors, Intel Capital, SoftBank Group and DCM Ventures.
Skylo Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Dec 2017 | ||
| 2 | Participant | Feb 2024 | ||
| 2 | Participant | Feb 2024 | ||
| 2 | Participant | Feb 2024 | ||
| 2 | Participant | Dec 2017 | ||
| 2 | Lead | Dec 2017 | ||
| 2 | Lead | Feb 2024 | ||
| 1 | Lead | Jan 2020 | ||
| 1 | Participant | Feb 2024 | ||
This data is available for Pro users. Sign up to see all 11 Skylo investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Skylo
Skylo has acquired 1 company to date.
Last acquisition by Skylo was on April 22nd 2020. Skylo acquired RANIOT Technologies for undisclosed valuation.
Latest Acquisitions by Skylo
| Description | RANIOT Technologies is a provider of software-defined networks for Industrial IoT that scales machine connections worldwide. The platform mobilizes data from sensors and equipment in manufacturing and energy sectors. RANIOT enables remote monitoring, predictive analytics, and automation across factories. It deploys edge computing solutions for real-time industrial data processing. |
| HQ Country | |
| HQ City | Espoo |
| Deal Date | 22 Apr 2020 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Skylo acquisitions and their M&A valuation multiples. Start Free Trial | |
Skylo Competitors
Skylo competitors include listed companies like SpaceX and EchoStar, and private ones like ICEYE, Chuangzhi Lianheng, Apolink and Everywhere Communications.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $289M | $115M | $12B | 40.3x | ||
| Private | - | - | $92M | - | ||
| Private | - | - | $45M | - | ||
| Private | - | - | $34M | - | ||
| Publicly listed | $19B | $3.9B | $2.0T | - | ||
| Publicly listed | $15B | ($16B) | $27B | 3.1x |
Skylo Public Comps
Skylo is still privately-owned, but its public comps include SpaceX, Bharti Airtel, Equinix, American Tower, Digital Realty Trust, Nokia, Ciena, Telstra, Yangtze Optical Fibre and Ericsson.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $19B | $3.9B | 106.0x | - | 503.3x | - | |||
| $22B | $12B | 6.2x | 5.7x | 11.3x | 10.1x | |||
| $9.2B | $3.9B | 13.3x | 12.3x | 31.3x | 24.2x | |||
| $11B | $6.2B | 12.4x | 12.0x | 21.1x | 18.2x | |||
| $6.1B | $3.7B | 14.6x | 13.1x | 24.2x | 24.2x | |||
| $23B | $2.2B | 2.5x | 2.4x | 26.4x | 17.3x | |||
| $4.8B | $333M | 10.4x | 7.9x | 148.4x | 36.4x | |||
| $16B | $5.7B | 3.3x | 3.2x | 9.2x | 8.3x | |||
This data is available for Pro users. Sign up to see all Skylo competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Skylo
| When was Skylo founded? | Skylo was founded in 2017. |
| Where is Skylo headquartered? | Skylo is headquartered in San Francisco, CA, United States. |
| Is Skylo publicly listed? | No, Skylo is a private, VC-backed company. |
| How much funding has Skylo raised? | Skylo has raised $183M across 4 funding rounds. |
| What was Skylo's last funding round? | Skylo's last funding round was a $30M undisclosed-stage round in February 2025, led by NGP Capital. |
| Who are Skylo's investors? | Skylo's investors include Innovation Endeavors, N47, Samsung Catalyst Fund, BMW i Ventures, Moore Strategic Ventures, DCM Ventures, Intel Capital, SoftBank Group, Seraphim Space IT, The Westly Group and 1 other. |
| Which companies are comparable to Skylo? | Companies comparable to Skylo include ICEYE, Chuangzhi Lianheng, Apolink, Everywhere Communications, SpaceX and EchoStar. |
| How many companies has Skylo acquired? | Skylo has acquired 1 company, including RANIOT Technologies. |
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