Private Equity Other Private Equity/Strategic Investments
Tata Group’s Nelco invests $20-M in US-based satellite communications co. Elveo
Source Economic Times (opens in a new tab)NSE Announcement (opens in a new tab)
Nelco, a Tata Group company, has invested USD 20 million in the US-based firm Lunar Holdco, which operates as Elveo . The investment involves the subscription to compulsorily convertible debentures (CCDs) that carry a 7% annual compounded return.Lunar Holdco is a pre-revenue company formed in January 2026 following the merger of satellite firms Lynk Global and Omnispace. The company develops a global S-band non-geostationary satellite orbit network.The investment aims to introduce direct-to-device and Internet of Things (IoT) satellite connectivity services to India and South Asian markets. Nelco plans to use the technology to provide connectivity and compute solutions to sectors including automotive, maritime, energy, and government.