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SoftBank leads US$103M funding round for connectivity provider Skylo

SoftBank Group Corp. led a US$103 million series B funding round for Skylo Technologies Inc., a California-based provider of internet of things connectivity for machines, sensors and devices.

DCM Ventures, Innovation Endeavors LLC and Moore Strategic Ventures LLC, which previously invested US$13 million of series A funding in Skylo, also participated in the round.

Yoshi Segawa, vice president at SoftBank Group International, will join Skylo's board, subject to regulatory approvals.

Skylo, which now has US$116 million in capital, is conducting commercial trials of its satellite-based IoT connectivity platform in the U.S. and other regions. It plans to grow its initial footprint in India and other emerging markets before eventually expanding worldwide.