We are excited to share some news with you today. Hubble Network, which is creating a global satellite network that any bluetooth enabled device can connect to, has successfully closed a $20m Series A. This investment round, led by Transpose Platform, provides the capital necessary to launch our first series of satellites and onboard our initial pilot customers. This milestone brings us one step closer to our vision of becoming the world’s first machine-to-machine network to connect over a billion devices.
The Internet of Things (IoT) holds immense promise, with the capacity to transform industries, improve efficiency, and enhance our daily lives. However, despite its possibilities, existing terrestrial and satellite networks have been holding back its full potential. Global accessibility remains a challenge, as current networks are limited to specific regions and fail to sufficiently cover rural, agricultural, maritime, and emerging regions predictably and seamlessly. Moreover, the exorbitant costs associated with deploying, connecting, and scaling IoT devices act as barriers, restricting innovation and hampering growth. Furthermore, prevailing solutions struggle to deliver the necessary power efficiency, leading to complicated deployment processes requiring solar cells and extremely large batteries. These three challenges have kept many dreams and innovations from coming to market.
Hubble Network is building the world’s first global network that is easy to use, cost effective, and battery efficient. Our technology operates through a simple software framework, enabling any Bluetooth device to directly connect to our satellite network. This revolutionary approach allows any existing device to be retrofitted to transmit data to the Hubble Network with no additional hardware changes. Given that there are almost 5 billion devices sold per year with Bluetooth we have the potential to usher in a new era of connectivity, empowering businesses and individuals to unlock unprecedented possibilities in a truly connected world. From smart cities and industrial automation to healthcare and agriculture, innovation knows no bounds.
The successful conclusion of our Series A funding round positions us to achieve our vision by launching our first set of satellites in Q2 of 2024. These satellites will form the backbone of our network and allow us to activate our first pilot customers. We are actively working with a great set of partners and customers across a variety of different applications and industries including consumer, supply chain, infrastructure, agriculture, and oil and gas.
Hubble Network’s genesis stems from the experiences of our founders. Previously Alex cofounded Life360, which he took from idea to IPO, where he dealt with this very problem trying to build a GPS watch for kids. Ben created a peer to peer wireless network that eventually became Amazon sidewalk, personally pitching the idea to Jeff Bezos. And to get us to space, John has launched over $1 billion in space assets throughout his career.
We extend our heartfelt gratitude to the dedicated Hubble team and our visionary investors who have believed in our mission thus far. Along with Transpose, we are happy to announce participation in this round from many great funds and angels including (but not limited to): Y Combinator, Yes.VC, Convective Capital, Seraphim Space, Type One Ventures, Soma, AVCF5, Space.VC, Jett McCandless CEO of Project44, John Kim CEO of Sendbird, Chris Nguyen cofounder of LogDNA / Mezmo, Alan Keating, and Don Dodge. Together, we are embarking on a journey to reshape the future of connectivity. We are poised to connect over a billion devices, unlock unparalleled IoT use cases, and empower businesses and individuals worldwide.