# FOSSA

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fossa-2

- Industry: Aerospace
- Headquarters: Madrid, Spain
- Website: www.fossa.systems/
- Total disclosed funding: $6.7M
- Latest round: Series A (Jun 17, 2024)
- Investors on record: 4

## About

Based in Madrid, Spain, FOSSA Systems S.L. provides advanced Satellite IoT solutions utilizing nanosatellite technology to improve connectivity across various industries worldwide. FOSSA Systems S.L. specializes in Satellite IoT, focusing on nanosatellite technology for enhanced communication. Founded in 2020, the company is headquartered in Madrid, Spain. The founders, Julian Fernandez and Vicente Negro, have a background in technology innovation. In June 2026, FOSSA raised EUR 9.25 million in venture funding led by Kibo Ventures, with participation from Spanish Society for Technological Transformation, SPARX Group, WISeSat, and Indico Capital Partners. The total amount raised by the company stands at EUR 6.3 million. FOSSA Systems specializes in providing Satellite IoT solutions, leveraging nanosatellite technology to enhance connectivity across various industries. Their primary offerings include nanosatellites, satellite ground stations, and the FOSSA Nexus, an IoT gateway designed for reliable communication in remote environments. These products serve diverse use cases such as cathodic protection for pipeline monitoring and smart farming for livestock management, effectively addressing challenges related to connectivity in regions lacking cellular coverage. The company serves a broad client base that includes corporate enterprises and small to medium-sized enterprises (SMEs) across sectors like energy and utilities, logistics, national security, and agriculture. FOSSA's solutions are deployed in various international markets, ensuring global coverage and accessibility. FOSSA Systems reported a revenue of EUR 1,081,286.10 for the year 2024, alongside an EBITDA of EUR -134,196.90. The company generates revenue primarily through subscriptions and partnerships, offering tailored satellite connectivity solutions to its clients. Their business model revolves around providing B2B services, where organizations contract for reliable satellite connectivity for their IoT devices, typically involving recurring fees based on service usage and specific solutions provided. Key products such as the FOSSA Nexus facilitate ongoing connectivity, while additional offerings, including satellite ground stations, enhance operational capabilities for clients. This structured approach allows FOSSA to maintain a steady revenue stream through long-term contracts and service agreements with various industries.In June 2024, FOSSA Systems S.L. raised EUR 6.3 million in Series A funding, co-led by returning investors Indico Capital and Nabtesco Technology Ventures, with participation from new investor Sabadell Venture Capital. The company plans to utilize this funding to enhance the management of its remote working setup and the remote monitoring of its satellite devices. They are also focusing on designing and launching new products to improve their service offerings and are looking to expand into new markets, specifically targeting regions with limited connectivity by the end of 2025. The company plans to utilize the June 2026 funding for satellite infrastructure deployment, defense capability development, and international expansion.

## Funding rounds

- Series A, Jun 17, 2024, $6.7M — Sabadell Venture Capital, Indico Capital, Nabtesco Technology Ventures, Newmind Venture

## Investors

- Sabadell Venture Capital (https://capitalatlas.ai/funds/sabadell-venture-capital) — Series A
- Indico Capital (https://capitalatlas.ai/funds/indico-capital) — Series A
- Nabtesco Technology Ventures (https://capitalatlas.ai/funds/nabtesco-technology-ventures) — Series A
- Newmind Venture — Series A