Stellar Secures €9.3M in Private Investments and Public Grants to Revolutionize Internet Connectivity for Vehicles

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Funding fuels development of AI-powered STEER® network selection technology for seamless internet on the move

Bordeaux, October 8, 2024 – Stellar Telecommunications SAS (“Stellar”), a pioneering startup focused on delivering flawless internet connectivity for vehicles on the move, has successfully secured €9.3 million in new funding. This funding round includes contributions from strategic private investors and substantial public grants, marking a significant milestone in Stellar’s journey to revolutionize in-vehicle internet connectivity through its AI-powered SaaS solution, STEER®, which intelligently selects the best available network across satellite, Wi-Fi, and cellular options.

The round was led by Elewit, the technology innovation platform of Redeia, alongside Primo Ventures, through its Primo Space Fund, and Alchimia Investments. The company continues to benefit from support by a major EU automotive manufacturer. In addition to private investments, Stellar received non-dilutive funding from the French Region Nouvelle-Aquitaine and the European Regional Development Fund (ERDF), recognizing its potential to drive technological innovation and contribute to regional and European economic growth.

“We are delighted to have such a prestigious group of investors backing our mission,” said Damien Garot, Co-founder and CEO of Stellar. “This combination of private and public funding will allow us to expand our expert team, accelerate product development, and bring our cutting-edge solutions to market faster. Our vision is to ensure that all future vehicles are natively equipped with our technology, so that fast, reliable internet connectivity becomes an everyday reality for everyone.”

Stellar brings perfect internet to vehicles and passengers, even in the most remote areas

A Vision for Universal Connectivity

Leading the investment, Silvia Bruno, Director of Elewit, said, “Our investment in Stellar is motivated by a shared goal: achieving universal connectivity. We are honored to lead this funding round and believe Stellar is at the forefront of a technological revolution. Their work is pivotal in transforming how the world stays connected, and we are proud to support them in this effort.”

Matteo Cascinari, General Partner at Primo Space Fund, emphasized the strategic importance of Stellar’s technology: “Stellar represents the potential of space and satellite technology to drive transformation in terrestrial industries. Their AI-powered software brings innovative solutions to mobility, which is why they are such a valuable addition to our portfolio.”

Marcello Tedeschi, Managing Director of Alchimia Investments, added, “Stellar’s unique approach to secure and reliable connectivity makes them a standout player in the mobility sector. We are confident that their expertise will shape the future of the industry, addressing one of the most critical challenges facing the connected vehicle ecosystem today.”

Expanding Global Reach and Market Ambitions

Stellar operates across 16 countries, with offices in France, Luxembourg, and Germany. The company has partnered with 420 cellular networks and 18 satellite networks and has accumulated over 180 million training data inputs for its AI-based solutions. With plans to triple its revenue year-on-year over the next three years, Stellar is positioning itself as the go-to solution for enterprises seeking seamless, ubiquitous internet access across all wireless infrastructures.

About Stellar

Stellar Telecommunications SAS is the world’s first company to provide seamless connectivity for vehicles by leveraging satellite, Wi-Fi, and cellular networks. The company’s AI-powered STEER® solution intelligently selects the best available network, ensuring high-speed internet access even on the move. Since its inception, Stellar has been bridging the gap between the automotive, telecommunications, and space sectors, driving a revolution in mobility.

Key Investors:

  • Alchimia Investments: Alchimia is a private investment company specializing in venture capital. It focuses on early-stage, high-growth startups across multiple sectors and provides both capital and strategic support.
  • Elewit: Founded in 2019 as Redeia’s technology platform, Elewit aims to drive innovation in the electricity and telecommunications sectors, with a focus on sustainability and connectivity.
  • Primo Ventures: Primo Ventures is Italy’s leading platform for alternative investments, specializing in technology, healthcare, climate tech, and the space economy.

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