ST Engineering’s Corporate Venture Capital unit invests in hiSky, a provider of satellite voice, data and IoT solutions
Singapore and Herndon, Virginia, December 8, 2021 – ST Engineering today announced that its corporate venture capital unit, ST Engineering Ventures Pte Ltd, has led a US $ 30 million Series A funding round in Israel-based hiSky Ltd., a A leading developer and provider of affordable and agile satellite Internet of Things (IoT) satellite networks and solutions, with the participation of SDF (Strategic Development Fund), the investment arm of Tawazun Holding, and existing shareholders of hiSky.
The investment in hiSky enables ST Engineering’s satellite communications business, ST Engineering iDirect, to take advantage of the cost-effective and easy-to-install IoT network of the former. This includes Smartellite â¢ satellite terminals and the cloud-based Network Management System (NMS), which are complementary and integrated with existing ST Engineering iDirect hub stations and can be quickly deployed into current ST Engineering iDirect satellite networks.
hiSky has created its own low cost and easy to install Smartellite â¢ satellite terminals that can transmit and receive IoT / Machine-to-Machine data. This eliminates the need to build an IoT infrastructure from scratch, dramatically reducing the cost of entering the market. Its state-of-the-art, electronically steerable phased array antenna performs well in mobile and remote environments, making it highly attractive to customers in industries such as marine, logistics, and utilities, among others. Additionally, its cloud-based NMS provides end users with insight into the status of their devices in the field to improve the usability of the entire IoT network. Importantly, these terminals are designed to meet the demands of LEO satellites, which are new advanced satellites to be launched over the next decade, to provide customers with a future-proof solution that will evolve with their connectivity demands.
“Analysts predict that the satellite IoT market growth will total $ 1.1 billion in revenue by 2027. Therefore, enabling our customers to grow with an effective IoT solution is key to our strategy.” said Low Ka Hoe, president of satellite communications at ST Engineering. . âThis investment allows us to jointly offer hiSky’s innovative and robust IoT satellite terminals with the complete hub and network management solutions of ST Engineering iDirect, providing our customers with a validated and future-oriented IoT solution that pulls part of their existing infrastructure. The flexible service activation options will help reduce our customers’ upfront costs and minimize the operational complexities associated with building and launching their own IoT solutions, thereby accelerating their time to market.
âHiSky is both proud and delighted to welcome ST Engineering Ventures and SDF as investors,â continued Shahar Kravitz, co-founder and CEO of hiSky. âST Engineering iDirect has been a strategic partner of hiSky for two years and we see their investment in hiSky as a natural step towards continued and rapid growth of our IoT satellite solutions across all industries and sectors. We have no doubt that hiSky’s satellite IoT technology, combined with the capabilities of ST Engineering iDirect, will bring great value to customers by lowering their costs and shortening their time to market. We thank our new investment partners for this vote of confidence in our technology, our vision and our business plans. “
With offices in Singapore, San Francisco, USA and Tel Aviv, Israel, ST Engineering’s Corporate Venture Capital unit researches and invests in promising technology start-ups in high growth areas such as robotics, technology autonomous, data analytics, cybersecurity, IoT, Cloud, connectivity and other emerging technologies. It aims to forge fruitful collaborative relationships with start-ups, by combining technologies and expertise to co-create disruptive solutions while allowing them access to global business ecosystems, to the Group’s expertise and resources. .
ST Engineering is a global technology, defense and engineering group with offices in Asia, Europe, the Middle East and the United States, serving customers in more than 100 countries. The Group uses technology and innovation to solve real-world problems and improve lives through its diverse portfolio of businesses in the aerospace, smart cities, defense and public safety segments. Singapore-based ST Engineering reported sales of $ 7.2 billion in fiscal 2020 and ranks among the largest companies listed on the Singapore Stock Exchange. It is included in the FTSE Straits Times index, MSCI Singapore, iEdge SG ESG Transparency Index and iEdge SG ESG Leaders Index.
ST Engineering iDirect, a subsidiary of ST Engineering North America, is a global leader in satellite communications (satcom) providing technologies and solutions that enable its customers to expand their businesses, differentiate their services and optimize their satcom networks. Through the merger with Newtec, a recognized industry pioneer, the combined company brings together more than 35 years of innovation focused on solving the most critical economic and technological challenges of satellites and extends a common commitment to shaping the future of the world connection. The product portfolio, marketed under the iDirect and Newtec names, represents the highest standards in performance, efficiency and reliability, enabling its customers to deliver the best satcom connectivity experience anywhere in the world. ST Engineering iDirect is the world’s largest manufacturer of TDMA enterprise VSATs and the leader in key industries such as broadcast, mobility, and military / government. In 2007, iDirect Government was formed to better serve the US government and defense communities. For more information on our platforms, please visit www.idirect.net.
hiSky is the leader in agile satellite IoT networks, giving businesses, people and machines the freedom to connect from any device, anywhere, anytime. We provide a reliable and affordable satellite IoT and MSS network with an easy-to-use cloud-based management platform that includes monitoring, alerting and billing capabilities. Businesses benefit from our proven connectivity to cover any terrain, establish private commercial satellite IoT networks, gain insight from high-volume secure data, and more. HiSky’s agile network includes satellite terminals, hub base stations, a mobile application, an IoT / M2M interface and application servers. The network operates using GEO and LEO satellites. True global connectivity begins with our vision: Make agile IoT connectivity accessible to everyone, everywhere.
Vice-President, Corporate Marketing
ST Engineering iDirect
Telephone: +1 703 648 8155
Email: [email protected]