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Dutch narrowband satellite communications company Hiber is in cash trouble. The company was granted a moratorium on Friday, usually followed by bankruptcy.

Hiber provides IoT communications for business machine-to-machine applications. In practical terms, that means monitoring industrial real estate, vehicles, marine equipment, heavy equipment for the mining and oil industries and smart meters. With a small transmitter on board, all such objects can be read via space for things like status, location and occupancy, for example.

This time last year, Hiber came into the hands of Astrocast of Switzerland. Hiber's shareholders invested more than ten million euros in the buying party to help finance its growth plans.

At the time, the Amsterdam-based scaleup had been plagued by liquidity problems for years. In coronajear 2020, it suffered a loss of 10 million euros.

The Swiss o considered the Dutch company because of, among other things, its customer portfolio in the oil and mining industry, coverage in the U.S. and specialized workforce.

Astrocast had plans to launch more than a hundred IoT satellites.

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