PARIS — Startup satellite IoT hardware and service provider Astrocast S.A. of Switzerland has secured a $17.5-million convertible loan from its L-band spectrum provider, Yahsat’s Thuraya Telecommunications Co., bringing the company closer to its goal of raising $43.7 million this year.
The two companies said they were also negotiating a renewal of their 2019 agreement that allows Astrocast use of Thuraya’s L-band spectrum.
The investment, announced April 3, is Thuraya’s first in a low-orbit constellation and . . .
To view the entire article, become a subscriber!
