FOSSA Systems | X-Europe Startup Interview
Welcome to our X-Europe startup interview series. We have virtually sat down with a number of our founders from past cohorts to hear all about their solutions, vision for the future, and what made them tick during our X Europe programme. So whether you are a deep tech founder looking for startup support, an eagle-eyed investor, or simply interested in the possibilities that technology can bring to society, then we welcome you to take a read. Please meet FOSSA Systems, a startup creating a new low-cost picosatellite market to democratize access to space.
Can you briefly explain what your solution is all about? What’s unique about it?
FOSSA Systems is a Spanish company that provides dedicated and secure IoT communications to companies and defense networks, with assets in remote areas, through satellite platforms. We combine technological miniaturization with mass production techniques, reducing the cost of developing our platforms and, consequently, the cost of communications.
In our objective of offering IoT communications worldwide, even in areas where there is no mobile coverage, FOSSA Systems offers competitive connectivity solutions to companies and professionals in sectors such as agriculture, industrial, energy, infrastructure, communications, or defense and cybersecurity. This IoT connectivity allows companies to monitor assets and control processes, being able to make the best decisions to optimize results.
What led you to start or join your company? What is the key motivation and mission behind the startup?
It all started on the Reddit forum. I made a post about picosatellites and met some college kids. There I managed to raise 30,000 € to develop my first picosatellite and demonstrate IoT connectivity with it. With that goal in mind, in 2018 I started working, with a few friends, as a non-profit association, called FOSSA Systems, which later became the company we work for today.
The launch of the FOSSASat-1 was a success, it reached its orbit without complications and we were able to receive IoT data from it. This success made companies show interest in our product and in the purchase of satellites for IoT communications. In February 2020, me and my business partner Vicente Gonzalez, talked about the future of the project and the projection it could have and we decided to establish FOSSA Systems S.L.
What’s the biggest milestone your startup has achieved so far, and what has surprised you most on this journey?
I guess that every day is a big milestone at FOSSA Systems. We established the company last year, in July 2020, in the middle of the COVID-19 pandemia, and we are currently 12 employees and growing! This year we manage to raise 765,000 € in seed funding by NewMind Venture, a Spanish venture capital, and WISeKey, a Swiss leading global cybersecurity company. This brought us really interesting clients and developments, integrating into our platforms a microcontroller that ensures the encryption of our data, offering a completely secure communication system to our clients.
What are your goals over the next 3, 6, and 12 months?
We are focused on growing our team, employing more engineers and marketing profiles to impulse our developments and sales.
What advice would you give to an entrepreneur trying to pave his/her way in the Space landscape?
To work hard and never lose the scope. IoT connectivity is our present and our future. It has multiple benefits for our society, not only in the industrial area.
What one piece of advice would you give your 21-year-old self?
I am still 19 :), cannot tell yet.