hiSky Ltd., an Israeli startup that provides satellite Internet of Things (IoT) networks and solutions, completed a $30 million Series A funding round led by ST Engineering’s Corporate Venture Capital unit and SDF (Strategic Development Fund), the investment arm of United Arab Emirates-based Tawazun Holding, and current hiSky shareholders.
hiSky says that the company operates a “cost-effective and easy-to-install IoT network, with unique Smartellite satellite terminals and a cloud-based network management system (NMS).” The network is specifically designed to transmit and receive IoT/Machine-to-Machine data; including sensor software, e-log systems, etc., and comprises of functions and modules enabling any network partner to deploy, operate and sell tailor-made IoT connectivity services, priced at a fraction of the market alternatives.
hiSky’s innovative network provides a wide variety of industries operating in remote terrain, including transportation & logistics, automobile, telecommunications, oil & gas, mining, maritime, energy & utilities, agriculture, fisheries, healthcare, etc., with connectivity options that were previously not viable due to cost and performance.
hiSky’s Smartellite satellite terminals include a state-of-the-art, electronically steerable phased array antenna making it highly attractive to customers operating in mobile environments. Uniquely, the terminals are also designed to meet the requirements of LEO satellites, advanced new satellites that will be launched and operational in the next decade, guaranteeing a future-proofed solution that will correlate with the market’s connectivity demands.
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— hiSky (@hiSkysat) November 18, 2021
“ST Engineering’s Corporate Venture Capital unit is a sophisticated technology investor and ST Engineering iDirect is an outstanding tech player with unparalleled sector expertise. With their backing, we will be able to expand our innovative solutions in the satellite industry,” said Shahar Kravitz, CEO and Co-Founder of hiSky. “Having SDF, the investment arm of Tawazun Holding, onboard as a major player in the gulf, will allow us to rapidly expand in the region along with the growing demand for our products.
“We also highly appreciate the continued support of our existing investors, including the Reuben Brothers and Jose Mugrabi, and are excited to add ST Engineering and SDF to our team as we enter the next phase of our growth.”