Nelco, a Tata group company, is investing twenty million in Elveo mobile to introduce advanced satellite connectivity solutions in India. The deal will bring direct-to-device and IOT connectivity in the region.
Nelco, the satellite communication provider company of Tata group, announced a partnership and an investment of $20 million (₹ 191.2 crore) with the US-based Lunar Holdco. Inc, which operates Elveo mobile, on Monday.
The partnership is aimed at bringing next generation direct to device (D2D) and Internet of Things (IOT) satellite connectivity to India and South Asian markets. It will cover primarily automotive, maritime and energy sectors.
According to the deal, Nelco will subscribe to Compulsorily Convertible Debentures (CCD) of the Delaware based Lunar Holdco. The CCDs will have a 7 percent annual compound return, convertible to equity shares of the firm at specified conversion events.
The partnership will enable Nelco to provide connectivity and compute solutions directly from Elveo’s satellites to various sectors. The technology is expected to close coverage gaps for enterprise-grade solutions such as automotive telematics, fleet tracking, infrastructure monitoring and disaster response.
Lunar Holdco was formed in January 2026, with the merger of Lynk global and Omnispace. The pre-revenue company focuses on building global S-band and Non-Geostationary Satellite Orbit (NGSO) network.
The investment do not confer control over Lunar Holdco to Nelco
