Skylo Technologies, which is a San Mateo based the reported manufacturer of the world’s most affordable and ubiquitous network that connects any sensor, revealed today that it got out of its stealth mode.
The startup secured $13 million in the funding round of Series A led by DCM, Moore Strategic Investors, Innovations Endeavors. Apart from that, it also revealed that it secured $103 million in the funding round of Series B led by the SoftBank Group and existing investors.
Skylo’s value proposition lies in bringing instant, affordable, and ubiquitous Internet of Things connectivity to millions of machines, devices, and sensors, even in remote geographies. The company also claims that it is the world’s first startup to leverage the cellular Narrowband Internet of Things protocol via the satellite, which makes it possible to instantly connect the billions of objects and machines in remote areas.
“Skylo envisions a world where connectivity for machines, sensors, and devices is as ubiquitous as the sky. This low-cost, global fabric of connectivity for machine data will be transformative for entire industries,” said Skylo’s Co-founder and CEO Parthsarathi Trivedi.