Million euros for Dutch IoT satellite

Magnitude Space, in its own words the first commercial satellite operator in our country, has raised one million euros in growth capital to roll out their satellite network internationally. That network is used to run the Internet of Things (IoT). A few million more is required before the company launches.

The Amsterdam company Magnitude Space plans to start up an internationally operating satellite network for monitoring applications. The company does this by offering a network for Internet of Things sensors. These are sensors that transmit small amounts of data at fixed intervals. It is increasingly being used in agriculture, for example in weather stations. It is expected that IoT will eventually intertwine in all sectors. Agriculture is an important one, but also in and around the house, for example.

Launch costs much more
The company's start-up has raised one million euros to start the international launch. However, that is still far from enough to launch satellites into the sky. Director Laurens Groenendijk is in talks for a follow-up round that should yield at least 5 million euros, he tells the Financial Daily† 'The launch has already been ordered from a rocket operator. The first mini satellite will be fired outside the atmosphere for 500.000 euros.'

48 satellites
The first satellite should be operational by the end of 2017. Then contact can be made with the network 1 time per 48 hours, worldwide. Ultimately, the network should include XNUMX satellites. The European Space Agency (ESA) and the Dutch government are supporting the project. The latter gave the start-up the status of official satellite operator and made the frequency available. That frequency is exclusive to Magnitude Space, which keeps competition at bay.

LoRa network
Ernst Peter Hovinga, CEO of the company: 'Only 10 percent of the world is covered by current networks such as GSM and Wi-Fi.' Magnitude only provides the communication. You are free to choose a sensor system. A subscription to the satellite service costs 3 euros per year per sensor. According to the entrepreneurs, this is cheaper than the existing alternatives. In the Netherlands, KPN operates the LoRa network for IoT applications. There too, agriculture is already making use from.

Magnitude Space sees opportunities for farmers, such as monitoring livestock or soil sensors. Those sensors are already on the market. However, there is not yet a comprehensive network.

One of the first customers rents out 12.000 Dixies. He loses 100 of them every year. By equipping them with a sensor of 15 euros, that is a thing of the past. The hardware purchases Magnitude Space. Software is developed and written in-house. According to the entrepreneurs, this is where the greatest innovation lies.

Niels van der Boom

Niels van der Boom is a senior market specialist for arable crops at DCA Market Intelligence. He mainly makes analyses and market updates about the potato market. In columns he shares his sharp view on the arable sector and technology.

n.vanderboom@boerenbusiness. Nl

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