LeoSat cuts capex by 15% & boosts throughput, but is still struggling to close Series A financing; seeking IoT play

by Peter B. de Selding

PARIS — LeoSat Enterprises, which is planning a constellation of broadband satellites for business-to-business data trunking, has cut its estimated capex by 15% by seeking bids beyond its presumed prime contractor, Thales Alenia Space, but is still struggling to close its $50-million Series A financing round.

Chief Executive Mark Rigolle said the company is widening its search for equity partners to include an undisclosed IoT operator whose investors have signaled an interest in LeoSat. Rigolle said he encountered the IoT operator as a possible LeoSat partner after . . .

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