"We are excited to announce the closing of our CHF 9M Series A Round. This round will significantly accelerate our production of IoT modules and our commercial deployment. We want to thank our investors and teams for their continued support as we build our Nanosatellite IoT Network.
We are also excited to announce that Astrocast was awarded a CHF 500,000 loan from the Foundation for Technological Innovation. The FIT Growth loan encourages entrepreneurship, supports innovation and bolsters the local economy by supporting technology startups in the county of Vaud Switzerland. Astrocast received a similar award called the FIT Seed Loan in 2015.
It has been an amazing year at Astrocast. We launched two test satellites making us the first company to prove we can launch, propel, accurately determine the position and communicate with their LEO nanosatellites in less than 2 hours after launch. Both satellites have completed a full system test and are functioning at full capacity.
Great things are ahead and we want to thank everyone for joining us on this journey!"