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FOSSA Systems, the Spanish company that is democratizing access to space, closes a seed round of €765,000

  • FOSSA Systems is a Spanish startup whose objective is the development and launch of picosatellites for IoT connectivity, satellites that weigh less than 1 kg for dedicated IoT connectivity
  • A miniaturized and standardized manufacturing process allows the company to greatly reduce manufacturing and launch costs and deadlines, compared to traditional companies in the sector

 

Founded in July 2020 by Julián Fernández (2002) and Vicente González (1994). In less than a year since the foundation of the company, different contracts have been signed to launch several picosatellites at the end of 2021 and beginning of 2022. The company has just signed a €765,000 seed financing round led by WISeKey and Newmind Venture.

FOSSA Systems has developed a standardized platform for picosatellites (satellites with a mass less than 1 kg) by combining technological miniaturization with mass production techniques. “Our goal is to offer a reference platform for institutions and companies that seek to launch their cargo into space reliably and quickly, while lowering the entry barrier and expanding the market’s customer base“, says its CEO, Julián. The goal of these picosatellites is to provide very low speed connectivity to respond to Internet of Things (IoT) sensors.

These sensors collect and send qualitative data from various aspects. An example is the use of the IoT in agriculture. With these sensors we could detect and control pests and diseases, know the status of the plants’ needs (fertilizer, automatic irrigation, etc.), as well as for the harvest, indicating the optimal time of harvest. Regarding animals, they are used for biometric monitoring and geolocation, in addition to being able to check the animal’s health status and its needs (feeding, removal of fertilizer, etc.), all remotely.

FOSSA Systems, since 2019, has proven flight experience in space through decoded packets, thanks to the FOSSASAT-1 mission in 2019, when the company’s first satellite was orbited and with resounding success. “Our products offer flexibility and agility never before seen in the market, through the constant evolution and innovation of our satellite platforms”, declares Julián.

This injection of capital, from the hand of the Swiss cybersecurity company WISeKey and the Spanish Venture capital, Newmind Venture, has allowed the growth of FOSSA’s team, from 5 to 12 employees. It also allowed a transfer of its offices to the centre de Madrid, in order to respond to the growing demand that the company is experiencing.

The investment made by WISeKey has an important strategic component since it has also signed a contract with FOSSA Systems in order to deploy WISeSat satellites (wisesat.space) to offer its customers an IoT technology in a SaaS model that enables IoT communications along with authentication and encrypted. This mission will begin at the end of this year, with the launch of 2 satellites.