OQ Technology secures $30 million from Europe for satellite-to-smartphone expansion

February 26, 2026 - 05:01

Luxembourg-based OQ Technology has secured a significant financial boost of 25 million euros, approximately $30 million, from the European Investment Bank. This strategic loan is earmarked for the expansion of the company's satellite constellation, which is designed to provide direct connectivity to standard smartphones from space.

The investment represents a major step in Europe's efforts to establish a competitive presence in the rapidly evolving satellite direct-to-device (D2D) communications market. This sector has seen intense activity and leadership from U.S. companies in recent years. The funding will enable OQ Technology to accelerate the deployment of its dedicated satellite network, enhancing its capacity to offer global Internet of Things (IoT) and eventual broadband services directly to unmodified mobile phones.

This move underscores a broader European ambition to foster technological sovereignty and ensure the continent does not fall behind in critical space-based communication infrastructure. By supporting innovative companies like OQ Technology, Europe aims to cultivate its own capabilities in providing seamless, global cellular coverage from low Earth orbit, a service poised to revolutionize connectivity in remote and underserved areas worldwide. The company's expansion plans are now set to advance with this substantial financial backing from one of Europe's key institutions.