Astrocast closes CHF9m Series A funding round

– SWITZERLAND, Ecublens –  Astrocast today announced the closing of a CHF9m Series A Round which should significantly accelerate the production of IoT modules and the sales development. With the continued support of investors and teams, Astrocast builds the Nanosatellite IoT Network.

Astrocast also announced that the company was awarded a CHF500K loan from the Foundation for Technological Innovation which encourages entrepreneurship, supports innovation and bolsters the local economy by supporting technology startups in the county of Vaud Switzerland. Astrocast received a similar award called the FIT Seed Loan in 2015.

After an amazing year, the company launched two test satellites that makes Astrocast the first company to prove the ability to launch, propel, accurately determine the position and communicate with the LEO nanosatellites in less than 2 hours after launch. Both satellites have completed a full system test and are functioning at full capacity.

About Astrocast

ASTROCAST SA is a Swiss-based, privately owned start-up, created on September 24th, 2014. Its core project is based on a constellation of 64 nano-satellites to be launched on a Low-Earth Orbit (LEO). The goal is to offer global Machine-to-Machine communication services for global businesses at the lowest cost in the industry.

ASTROCAST is offering an attractive investment opportunity for capital investors with strong added value.

The ASTROCAST team has also been involved in the creation of Switzerland’s first satellite – SwissCube, as well as numerous other highly-advanced projects in the space arena.

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