Hiber to receive share of €278 million EU grant
Hiber, the Dutch start-up behind the first IoT satellite network, has confirmed it will receive a share of the European Innovation Council Accelerator’s grant of €278 million, alongside further direct equity investment.
Scaling the team in response, Hiber, which employs 50 people across Amsterdam and Delft, has appointed three new advisory board members: Balderton Capital co-founder George Coelho, DCmobility founder Drew Caplan, and Lt. General Lawrence Farrell, an operational fighter pilot and former president and CEO of the National Defense Industrial Association.
With expertise in airlines, aerospace and connected technology, George Coelho has been involved in more than 100 investments worldwide, including Citrix and Trend Micro, representing in excess of $100 billion in market capitalisation.
With a career spanning more than three decades, Drew Caplan founded and led DCmobility, a wireless engineering and product development company serving customers in the satellite, terrestrial, and air-to-ground wireless markets.
Meanwhile, Lt. General Farrell served as an operational fighter pilot for 17 years and has since held the positions of worldwide deputy director of the Defense Logistics Agency, vice commander of the Air Force Material Command and deputy to the air force chief responsible for programming a $100 billion US Air Force budget.
Following his military service, he served for 13 years as president and CEO of the National Defense Industrial Association and has led numerous studies for commercial companies, including The Boeing Company, Raytheon, and Lockheed Martin.
“Hiber is uniquely positioned to serve a market that has, as yet, been untapped. Its operational planning and technology is well-advanced and well ahead of potential entrants to this market, “said Farell.
“My military background has not only provided me with extensive experience and an understanding of space, but also its potential and I am excited to work with Hiber to continue to harness the power of space,” he added.
The announcements coincide with the firm achieving Dutch National Icon status, a government-backed initiative, whereby Dutch companies with “social and economic potential” are selected to receive government support. As part of its status, Hiber will receive support and counsel from the Dutch cabinet member, State Secretary Keijzer, for three years.
Hiber was founded in 2016 as Magnitude Space, by Coen Janssen (pictured above left) and Laurens Groenendijk (right).
As the Netherland’s first commercial satellite company, Hiber is planning to launch and run a nano-satellite constellation in space. It launched its first two satellites from Sriharikota, India, and California, USA, in November and December 2018, and will launch its third and fourth in 2020 from Sriharikota. By 2022, Hiber’s constellation will comprise 48 satellites.