ZZ – FOSSA Systems, the Spanish company that is democratizing access to space, closes a financing round of € 765,000
FOSSA Systems is a Spanish startup whose objective is the development and launch of picosatellites, satellites that weigh less than 1 kg, for dedicated IoT connectivity applications
A miniaturized and standardized manufacturing process allows the company to considerably reduce manufacturing and launch costs and times, compared to traditional companies in the sector
FOSSA Systems, founded in July 2020, by Julián Fernández (2002) and Vicente González (1994), with less than a year of life and with contracts signed to launch several picosatellites at the end of 2021 and beginning of 2022, has just signed a financing round led by WISeKey and Newmind Venture, of € 765,000.
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 or companies that seek to launch their cargo into space reliably and quickly, while lowering the barrier to entry and expanding the market’s customer base,” says its CEO, Julián Fernández. The goal of these picosatellites is to provide low-power, high-speed connectivity to respond to sensors linked to the Internet of Things (IoT).
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 state of the needs of the plants (fertilizer, automatic irrigation, etc.), as well as for the harvest, indicating the optimal time of harvest. In the case of animals, they serve for biometric monitoring and geolocation, as well as being able to verify 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,” says Julián Fernández.
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 the team that makes up the company, from 5 to 12 employees, and a transfer of its offices to the center 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), in order to offer its customers an IoT technology in a SaaS model which enables secure IoT communications along with authentication and encryption. This mission will begin at the end of this year, with the launch of 2 satellites.