Kepler raises $5m to launch IoT satellites
August 11, 2016
Kepler Communications has raised $5m in an oversubscribed seed round to help the Toronto-based company launch a network of small satellites for IoT communications.
The financing round was led by Manhattan-based IA Ventures. Other investors include Liquid 2 Ventures, Techstars, Globalive Capital, BDC and some angel investors.
“IA Ventures invested in Kepler because we believe this infrastructure is needed to advance our society that continues to stretch the carrying capacity of the Earth,” said Brad Gillespie, partner at IA Ventures.
Kepler is building a network of small CubeSats to relay real-time messages sent by machines, acting as a service provider for IoT devices both on the Earth’s surface and in-orbit.
“The vision is to empower businesses with real-time actionable information tomorrow where today these data are often hours delayed,” said Mina Mitry, founder and CEO of Kepler.
Kepler uses small, replaceable, low-cost satellites following a shift in the industry towards agile development. Many companies are moving away from large monolithic satellites that would operate for seven to ten years to small spacecraft that are replaced every two to three years.
“This approach aligns well with our strategy to incrementally deploy infrastructure to meet customer demand and learn along the way,” said Mitry.
Kepler will use the new funding to launch satellites and deploy an initial service as early as the second half of 2017.