Tata Group’s Nelco invests $20 mn in US-based Elveo for satellite connectivity
New Delhi: Nelco, a Tata Group satellite communication service provider, on Monday announced a partnership and an investment of $20 million (approximately ₹191.2 crore) in US-based Lunar Holdco, Inc., which operates as Elveo Mobile.
The investment is aimed at bringing next-generation Direct-to-Device (D2D) and Internet of Things (IoT) satellite connectivity to India and South Asian markets, the company said in a regulatory filing.
