South Australian start-up Fleet Space Technologies’ plan to connect one million IoT devices to the industrial internet is gaining momentum.
The start-up, founded by aerospace engineers, recently launched “Project Galaxy,” asking prospective customers to sign up to use its emerging low-cost satellite network.
Within 24 hours participants registered one million devices which will be connected within the next three years. A further two million devices are on a waiting list to join the network.
Companies already on board include several Fortune 500 companies and hundreds of businesses looking to build an IoT network for agriculture, mining and logistics.
Fleet uses nanosatellites to provide internet connectivity to devices and sensors for US$2 each year. The technology network could be used to track cattle on remote outback farms, monitor temperature fluctuations in bee hives across California or for safety applications along Canada’s essential oil pipelines.
Founded in 2015, Fleet is backed by is backed by Blackbird Ventures, Grok Ventures, Horizon Partners, and the South Australian Government. It launched the first of its nanosatellites in late 2018 on board SpaceX, Rocket Lab and ISRO.
The business currently has four nanosatellites in orbit and is in the midst of a further capital raise to fund another 10 satellites, the AFR reports.
Flavia Tata Nardini, CEO of Fleet Space Technologies says the response to Project Galaxy shows demand is strong.
“The revolution is here. Project Galaxy booked out within 24 hours with one million devices registered and over two million on the waiting list, this in itself reveals the enormous demand of low-power, cost efficient industrial IoT,” said Tata Nardini.
“For years, the market has faced systems that are too expensive, plagued with limited bandwidth or operating in technology silos. Industrial IoT solutions are no longer out of reach, we’re thrilled to be a pioneering ultra-low cost IoT for business across the globe.”
Fleet’s solution includes an edge computing IoT gateway, deployment of long-range LoRaWAN devices, and ultra-low cost connectivity.