The investment will accelerate production of the Swiss startup's internet of things modules and commercial deployment, as it builds a nanosatellite IoT network.
The company also announced receiving a CHF 500,000 growth loan from the Foundation for Technological Innovation in canton Vaud.
Astrocast won a seat to roadshow with Switzerland's Venture Leaders China in 2017 and has ranked at the TOP 100 Swiss Startup Award for the past two years.
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