European satellite and communications start-up Hiber secured EUR 26 million in EU and private investment to expand its IoT satellite network. The company also welcomed Steven Kroonsberg and Roel Jansen to its management team as CFO and CCO, respectively.
The European Innovation Council Fund (EIC Fund), the EU’s innovation agency, awarded Hiber a share of its EUR 278 million Innovation Fund, which is designed to boost the EU's role in the global space sector and enhance its autonomy, Hiber said. The EIC co-invested with an innovation credit provided by the Dutch government and existing shareholders.
Hiber’s in-house-developed satellite constellation will ensure that it is possible to track and monitor machines and devices for a wide range of IoT products in some of the world’s hardest-to-reach places. The company said the funds will be used to further expand the satellite network and grow its customer base.
Kroonsberg will take on the role of CFO, having been former Principal at Boston Consulting Group and CFO at WePayPeople,. Jansen was VP Sales at Survey Monkey and co-founder and CCO at Usabilla. His task as CCO will be to implement an “IoT-as-a-Service'' commercial model for the company. Co-founder of Hiber, Laurens Groenendijk, will step aside as managing director to turn his attention to his other investment initiatives.
