A Beijing-based satellite manufacturer with big plans, Commsat Technology Development has raised at least $16 million in disclosed funding from a February Series A, though China Daily has reported that the China space startup has gone through three investing rounds.
In the next few years, the company says it plans to put 60 satellites into orbit to collect “real-time data for industries” including the heavy machinery and logistics sector, which sounds like it will position itself to serve the Industrial Internet of Things in space. Eventually, Commsat hopes to grow the network to 800 satellites.
In addition, the company plans to establish some satellite ground stations in countries and regions involved in China’s Belt and Road Initiative, a thinly veiled initiative to economically dominate all of Asia through infrastructure projects. The satellites will reportedly be used for telecommunication needs for things like offshore operations and forest fire prevention in places with limited or no access to the internet.
