Context
Astrocast is a global pioneer in Satellite IoT connectivity and has developed a nanosatellite constellation together with low-power modules to efficiently connect millions of IoT devices across the globe at a disruptive price.
The demand for IoT is exploding all over the world, but current satellite solutions do not properly address IoT needs across the 90% of the world’s surface that is not covered by traditional cellular networks. The potential for IoT in these remote areas is very significant, with more than 30 million low-power satellite-connected devices expected by 2025.
Astrocast has developed an infrastructure combining nanosatellites and miniaturized modules/antennae that is optimized for IoT connectivity in terms of cost, availability, form factor and power consumption. This technical breakthrough has been enabled by early technology development choices and key industrial partnerships with Airbus, CEA/LETI, the European Space Agency (ESA) and Tier 1 satellite operator Thuraya.
In addition to its state-of-the-art connectivity solution, the company has secured commercial access to the L-Band spectrum, which enables the company to operate its commercial service across the globe.
Astrocast has 12 satellites up and running in space. The company is the category leader in low-power satellite connectivity and the sole player in a position to commercially offer this service today.
About Astrocast
Founded in 2014, Astrocast is a satellite operator deploying a disruptive global nanosatellite constellation to connect millions of IoT devices in remote areas at ultra-low cost.
Astrocast provides a low-power and very small satellite terminal which makes it possible to connect and track any devices at a fraction of the price of current satellite-based solutions, and with broader coverage than other terrestrial IoT alternatives. Together with Airbus and CEA-Let, the company has co-developed a specific chip and communication protocol based on L-Band, and has developed its own satellite platform in-house to further reduce infrastructure costs. The technology is proven, with 12 satellites already in orbit, and the company has secured commercial access to the L-Band spectrum that enables the company to provide its communication service across the globe.
The company is meeting strong demand validated by pilot customers through various use cases covering logistics, agritech, smart metering, asset monitoring and maritime applications. With such a disruptive offering, Astrocast is aiming to provide mass access to satellite telecommunication in remote areas and countries that could not necessarily afford this technology today. The company is involved with NGOs and environmental companies to provide solutions that could materially impact our environment and help to make better use of natural resources.
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Sole Financial Advisor, Sole Global Coordinator and Sole Bookrunner to leading global IoT satellite operator Astrocast on its private placement and subsequent direct listing on Euronext Growth, securing a total of CHF 45 million for the company
Acting as Sole Financial Advisor and Sole Global Coordinator, Bryan, Garnier & Co secured CHF 45m of financing for Astrocast, building on its September 2019 funding round.
Bryan, Garnier & Co helped the company define the most appropriate financing route to enable the massive roll-out of its commercial service across the world.
Following the successful launch of five additional commercial satellites with SpaceX on 30th June 2021, more than CHF 20m of equity and equity-linked financing has been secured with Adit Ventures, Primo Space, Marine Instruments and DAA capital, who saw in Astrocast the potential to disrupt the satellite connectivity market. The balance of CHF 25m CHF was raised through an extension of the round via a direct listing on Euronext Growth with cornerstone investors including Palantir, the leading software company specializing in big data analytics, and a balanced mix of existing investors, public investors and VC funds including Verve Ventures.
This is Bryan, Garnier & Co’s 21st capital market transaction in 2021 YTD and one of the largest transactions in the European New Space market. It is a result of Bryan, Garnier & Co’s private and public capital markets transaction experience, its expertise in the deep tech and space markets and its unique ability to attract international strategic/corporate and institutional capital to foster the development of leading European New Space scale-ups.
Since 1997, Bryan, Garnier & Co has conducted more than 200 private placements for private and public European growth companies, to a value of more than EUR 5bn.
This transaction illustrates the firm’s unmatched ability to navigate seamlessly through the private and public market environments in a world where they increasingly overlap. It demonstrates its capacity to structure and execute the best solutions tailored for the needs of its clients, from straight equity to highly structured equity-linked debt or debentures. And it emphasizes Bryan, Garnier & Co’s geographical reach across growth investors’ asset classes on any European or US capital market.
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