Satellite IoT startup Astrocast gets badly needed $17.5-million financial lifeline from Yahsat’s Thuraya

by Peter B. de Selding

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 . . .

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