Breaking out of stealth, SkyFi announced on Thursday, that it raised $3 million from Jerusalem Venture Partners and the Liberty Israel Venture Fund ahead of a presentation at the Microsoft Think Next event in Tel Aviv. The founding team has experience from Israel Aerospace Industries (IAI), RaySat Broadcasting and the Gilat Satellite Network. Their satellite network (constellation) will provide up to one gigabyte of data per second anywhere in the world. Ahead of the event, Geektime got a sneak peek at their technology.
“We call them satellite seeds because they grow in space,” SkyFi Co-Founder and CEO Raz Itzhaki Tamir told Geektime. “Instead of tens of millions of dollars, it’ll be 10 to 100 times cheaper. We are able to enjoy both worlds. Launch and build up is very cost effective while the surface is a lot like a much larger satellite.”