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§ Private Profile · Madrid, Madrid, Spain
Developer of open-source nanosatellites and picosatellites, providing affordable IoT connectivity for global remote asset monitoring.
Based in Madrid, Spain, with additional operations in Portugal, FOSSA Systems develops open-source nanosatellites and picosatellites to provide affordable industrial IoT connectivity and remote asset monitoring worldwide. The company manufactures specialized satellites weighing under one kilogram to establish vertically integrated, low-power communication networks for commercial customers operating in remote geographic areas lacking reliable mobile coverage. In 2022, the enterprise significantly scaled its orbital infrastructure by successfully launching 13 nanosatellites into space through two dedicated transporter missions conducted by aerospace manufacturer SpaceX. FOSSA Systems has participated in the Space Endeavour Accelerator program and received corporate innovation recognition from regional entities including El Español, Expansion, and Alhambra Ventures. Originally initiated as a non-profit project focused on democratizing space access in 2018, the commercial entity was formally founded in 2020 by Julián Fernández and Vicente González Negro.
FOSSA Systems has raised $7.0M across 1 funding round.
FOSSA Systems has raised $7.0M in total across 1 funding round.
FOSSA Systems has raised $7.0M across 1 funding round. Most recently, it raised $7.0M Series A in June 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2024 | $7M Series A | Indico Capital Partners, Nabtesco Technology Ventures | — | Announced |
FOSSA Systems is a Spanish deep-tech startup specializing in satellite manufacturing and IoT connectivity solutions for remote and inaccessible areas lacking cellular coverage.[1][2][4] The company builds nanosatellites and microsatellites deployed in Low-Earth Orbit (LEO) equipped with LoRa and NB-IoT receivers, enabling direct-to-device communication for low-power sensors in industries like energy, utilities, agriculture, logistics, oil & gas, construction, and national security.[1][2][4][5] It serves industrial clients needing real-time asset monitoring and tracking—such as pipelines, livestock, or infrastructure—by offering SaaS-based satellite IoT services, dedicated satellites, or full constellations, with backward compatibility for existing hardware.[2][4][6] Growth momentum includes 20 satellites launched by early 2025 (up from 17 in 2022), a €6.3M Series A in 2024, partnerships like Microsoft for agriculture, and plans for an 80-satellite constellation to connect millions of devices globally.[2][3][5]
FOSSA Systems originated in 2018 as a non-profit organization aimed at democratizing space access and promoting IoT through open-source projects, including the development of FOSSASat-1, a LoRa IoT repeater launched with sponsorship from Everis Aerospace & Defense.[4] This global, contributor-driven effort via GitHub highlighted gaps in remote IoT connectivity, leading to the formal company incorporation on July 13, 2020, in Madrid, Spain (with an R&D outpost in Lisbon, Portugal).[2][4][5] Co-founders Julián Fernández (CEO) and Vicente González (CTO) brought expertise in aerospace and IoT, driven by the need for affordable worldwide connectivity in underserved areas.[2][4] Early traction came from satellite launch agreements with Platzi and WISeKey, over €1M in revenue by 2021, a €318K NEOTEC grant in 2022, and initial ground stations in Spain.[1][4]
FOSSA rides the explosive growth of IoT—from 10B connected devices today to 25B+ by 2025—targeting the 80% of Earth without cellular coverage amid rising demand for remote asset management in sustainability-driven industries.[3][4] Timing aligns with LEO nanosatellite proliferation, falling launch costs, and LPWAN standards like LoRa, enabling "direct-to-device" global monitoring without infrastructure overhauls.[1][2][4] Market forces favoring FOSSA include industrial digitization (e.g., net-zero goals via efficient utilities/agriculture), geopolitical needs for secure sovereign comms, and Europe's push for space autonomy.[2][5] It influences the ecosystem by open-sourcing early tech, partnering with Microsoft/R&D firms, and vertically integrating to lower barriers for SMEs/governments, accelerating satellite IoT adoption.[2][4]
FOSSA is poised to hit its 80-satellite constellation milestone soon after 20 launches in early 2025, entering full commercial scale with expanded coverage and revenue from SaaS, dedicated missions, and sectors like national security.[2][5] Trends like AI-driven IoT analytics, 5G/NTN convergence, and climate monitoring will amplify demand, while Series A funding fuels production.[3][5] Its influence may evolve from Spanish pioneer to key European player in sovereign space tech, potentially via more exits or acquisitions like Emerald VC's portfolio peers, solidifying satellite IoT as essential for global industrial resilience—bridging the connectivity divide that sparked its non-profit roots.[3][4]
FOSSA Systems has raised $7.0M in total across 1 funding round.
FOSSA Systems's investors include Indico Capital Partners, Nabtesco Technology Ventures.