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OQ Technology

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Global satellite 5G IoT and direct-to-device connectivity

Mertert, LuxembourgFounded 2015Space
Valuation $100–250M Last recorded · 2024
Headcount <100 Current team size
Total funding $50–100M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for OQ Technology and the history behind them.

About OQ Technology

OQ Technology is a global satellite operator pioneering 5G Internet of Things (IoT) and direct-to-device (D2D) connectivity through a constellation of low Earth orbit (LEO) satellites. Founded in 2016 by Omar Qaise, the company is headquartered in Luxembourg and aims to bridge the digital divide by providing seamless 5G coverage in remote and rural areas where terrestrial networks are unavailable. The company functions as a global satellite 5G IoT operator, providing uninterrupted cellular coverage for machines and assets anywhere on the planet.

The founder and CEO, Omar Qaise, has an extensive background in the satellite industry, having worked for the German Aerospace Center (DLR), the European Space Agency (ESA), and SES. This experience in both the technical and business aspects of satellite services inspired him to create OQ Technology, recognizing a market need for affordable narrowband IoT communication via smaller, more cost-effective satellites. He established the company as a solo founder with the vision of integrating 5G standards with satellite communication to connect industrial assets beyond the reach of traditional cell towers.

OQ Technology's core service provides 5G non-terrestrial network (NTN) connectivity that is compliant with 3GPP standards, allowing standard 5G smartphones and NB-IoT devices to connect directly to its satellites without requiring custom hardware. This approach enables interoperability with billions of existing cellular devices and significantly reduces deployment costs for customers. The company's satellite constellation functions as 'cell towers in the sky', extending reliable connectivity for a variety of applications. Key services include wellhead monitoring, asset tracking, drone controls, vehicle telematics, and emergency broadcast messaging. In July 2025, the company successfully transmitted the first-ever image over its 5G NTN IoT satellite network, a milestone that expands its capabilities to include visual surveillance for industries like energy, defense, and agriculture.

The company's business model involves partnering with global telecom operators to extend their coverage and selling services directly to enterprise customers in sectors such as energy, mining, logistics, maritime, and agriculture. OQ Technology has secured commercial contracts with major entities, including a significant agreement with one of the world's largest oil and gas companies to monitor their infrastructure. The company has steadily grown its satellite constellation, with 10 satellites in orbit and plans for further expansion. OQ Technology has successfully raised capital through multiple funding rounds, including a €13 million Series A in 2022 and is in the process of a Series B round backed by the European Innovation Council and the Luxembourg government.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2015
Headquarters
Mertert, Luxembourg
Employees
60
Open positions
5
Dealroom signal
82.5/100
Sector
Space, Fleet Management, Industrial IoT, 5G, EIC, Space Tech, Satellites, ESA, ESA SME, Communication and Connectivity Satellites
Technology
Hardware, Deep Tech, IoT InternetOfThings
Business model
Manufacturing
Client focus
b2b

Funding history

10 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
DEBTDebt Feb 2026 $28M — European Investment Bank ↗
SUPPORT PROGRAMOther financing Jun 2025 — — National Technology Development Program · EUSPA · CASSINI Initiative · Cassini Business Accelerator ↗
Showing the latest 2 of 10 recorded eventsBook a demo for the full funding history →

Growth signals

OQ Technology website traffic

Latest recorded traffic for OQ Technology is 5.4K monthly website visits, up 864.3% over the last three months. OQ Technology's team grew 13.2% over the past year.

Latest monthly visits5.4K 3-month web change+864.3% 1-year team growth+13.2%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

11 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Seed1 investor entered at this stage

  • European Innovation Council

Series A5 investors entered at this stage

  • Wa'ed Ventures
  • 5GVentures
  • 5G Ventures
  • SES Satellites
  • Government of Luxembourg

Series B and later1 investor entered at this stage

  • European Investment Bank

Other known investors4 additional known investors

  • CASSINI Initiative
  • EUSPA
  • National Technology Development Program
  • Cassini Business Accelerator
Team profiled 9 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 5 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
11 countries with
team presence
🇱🇺 Luxembourg59.1%
🇬🇷 Greece9.1%
🇫🇷 France6.8%
🇧🇪 Belgium6.8%
🇸🇦 Saudi Arabia4.5%
Top 5 of 11 shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about OQ Technology on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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