NuSpace, which provides internet-of-things connectivity and data platform services from space using nano-satellites, has secured an undisclosed amount of seed funding from Japan-based venture capital firm Beenext.
The funding will help NuSpace build a constellation of nanosatellites to bring IoT connectivity to places deemed economically unfeasible, such as in the middle of the ocean, the company said in a statement.
It plans to launch a technology demonstration satellite by the end of 2020 and complete the deployment of the constellation by the end of 2022.
NuSpace, which is a spinoff from the National University of Singapore, was founded by Ng Zhen Ning and Luo Sha, who are researchers at the NUS Faculty of Engineering.
South Africa Today