US EditionOQ Technology secures $30 million from Europe for satellite-to-smartphone expansion
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6 Articles
OQ Technology secures $30 million from Europe for satellite-to-smartphone expansion
Europe’s investment arm is lending Luxembourg-based OQ Technology 25 million euros ($30 million) to expand its direct-to-device constellation, bolstering the continent’s push to compete with U.S.-led efforts to connect smartphones from space. The post OQ Technology secures $30 million from Europe for satellite-to-smartphone expansion appeared first on SpaceNews.
Funding will support the deployment of a network of low-orbit satellites that will provide 5G anywhere, even without an antenna nearby.
OQ Technology is driving the Internet of Things through satellite connectivity - and is receiving a million-dollar start-up funding from the EIB.
OQ Technology Lands €25M in EIB Venture Debt Financing
Europe is driving hard on direct-to-device (D2D). The European Investment Bank (EIB) extended €25M ($29.5M) in venture debt financing to Luxembourg-based D2D satellite operator OQ Technology. The company will use the money to develop and launch 20+ sats in the next two years. “This is actually a big achievement, and also a testimony from the European Union perspective that having a European LEO direct-to-device player is strategically important,…
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