Nelco Ltd Invests $20M in Satellite Firm Lunar Holdco

Nelco Ltd has announced a strategic investment of USD 20,000,000 in Lunar Holdco, Inc., a Delaware-based satellite communications company operating as Elveo Mobile. This investment, made through Compulsorily Convertible Debentures (CCDs), aims to establish a long-term partnership for satellite-based Direct-to-Device (D2D), IoT, and mobile connectivity services in India and globally. Lunar Holdco is developing a next-generation NGSO satellite network and is backed by strategic investors like SES. The company is pre-revenue until its satellite constellation is fully deployed. The investment is expected to provide Nelco with strategic access to emerging satellite connectivity solutions and support growth opportunities within the satellite ecosystem. The transaction is complete, with conversion terms to determine future shareholding.