Univity: Europe's Satellite Internet Revolution Begins

Univity, the budding satellite internet startup backed by France, announced the completion of a hefty €27 million funding round, complementing a previous €31 million contract from the French space agency. This brings their total funding to €68 million as they set sights on becoming Europe's top satellite operator.

Targeting a different market than competitors like Elon Musk's Starlink, Univity focuses on telecoms operators, aiming to share infrastructure and provide space-based internet services on a massive scale. They've signed 16 agreements across four continents and plan to deploy a fleet of 3,400 satellites, establishing the largest network in Europe.

Led by CEO Charles Delfieux, formerly of the World Bank, Univity aims to outmaneuver rivals by internalizing satellite production near Toulouse to cut costs. With significant funding secured, the company plans to launch its first satellites shortly and begin wide-scale deployment by 2028 with substantial investment support.

(With inputs from agencies.)