TAMPA, Fla. — The European Investment Bank (EIB) is lending Sateliot 30 million euros ($32 million) to help the Spanish remote connectivity startup add 16 more nanosatellites to its low Earth orbit network before the end of 2025.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...