INSUBCONTINENT EXCLUSIVE:
Australian satellite startup Fleet Space Technologies has raised a $7.35 million round of funding to help launch its next generation of
satellites are roughly the size of shoe boxes, which are much cheaper and easier to launch than traditional geocommnications satellites, and
the company intends to use a globe-spanning constellation of these in order to serve needs like tracking construction equipment assets,
monitoring pipelines and other utility infrastructure and more.Already, Fleet has launched four of its nanosatellites to orbit on a number
of different rockets, including an Indian Space Research Organization (ISRO) rocket, a Rocket Lab launch and via SpaceX
potential market, and could be made up of more than 14 billion low-power devices by 2025, Fleet Space says, based on IDC estimates
Edge computing is a huge trend right now, where a lot of these previously fairly rudimentary on-device sensors and monitors are able to do
more processing on-site, but at some point the value of a network of IoT devices is that the resulting data can be collected, analyzed,
affordable for commercial and industrial clients large and small
where communication can be hard to come by, like agriculture, forestry and mining.This round of funding includes investment from Momenta
Ventures and Horizon Ventures, and adds to the previous $5 million AUD ($3.4 million USD) that Fleet raised previously from Blackbird
Ventures and Grok Ventures, with contribution from the South Australian government.
