With investment in GPS/GNSS backup Satelles, investment fund C5 Capital makes the space-cyber link

by Peter B. de Selding

PARIS — Iridium-based GNSS backup provider Satelles Inc. raised $26 million in Series C financing led by C5 Capital of London, a venture-capital firm specializing in cyber security plays that was making its first investment in the space sector.

Satelles was formed in 2016 but its key selling point was sharpened in early 2019 when mobile satellite services provider Iridium Communications Inc. announced the full transfer of its operations to its second-generation Iridium Next constellation of satellites in low Earth orbit.

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