Kepler Communications Inc., a Toronto-based satellite telecommunications service provider, has closed a $5 million seed-stage round led by U.S. venture capital firm IA Ventures. BDC Capital also participated in the round, alongside Liquid 2 Ventures, L.P., Techsters Ventures, Globalive Capital and a number of undisclosed angel investors.
Kepler is building a network of “CubeSats” – satellites roughly the size of a loaf of bread – to relay real-time messages sent by machines, acting as a service provider for IoT devices (internet of things) both on the earth’s surface and in-orbit.
Mina Mitry, Kepler’s CEO and founder, says, “The vision is to empower businesses with real-time actionable information tomorrow where today this data is often hours delayed.”
Kepler says the round will support its plans to create a network of small, easily replaced satellites to create a real-time network through which IoT devices to communication, essentially building a cellular network in space allowing machinery and equipment to talk to one another and its handlers, reports TechCrunch in a recent article.
BDC Capital is a member of the Canadian Venture Capital and Private Equity Association.