Tata Group satellite communications company Nelco has announced a partnership with US-based Lunar Holdco Inc., the company operating as Elveo Mobile, along with a $20 million investment to expand next-generation satellite connectivity in India and South Asia.
The investment, valued at around ₹191.2 crore, will focus on bringing Direct-to-Device (D2D) and Internet of Things (IoT) satellite connectivity to new markets.
Nelco To Invest In Elveo
Under the agreement, Nelco will subscribe to Compulsorily Convertible Debentures (CCDs) issued by Delaware-based Lunar Holdco.
The debentures will offer a 7% annual compounded return and can be converted into equity shares of Lunar Holdco when specified conversion conditions are met.
Nelco said the partnership will help expand its satellite communication capabilities and create new opportunities across India, South Asia and selected global enterprise markets.
Focus On Direct To Device Connectivity
Nelco Managing Director and CEO P J Nath said Direct-to-Device technology represents a major growth opportunity for the global satellite communications industry.
Through the partnership, Nelco plans to use Elveo’s satellite network to provide connectivity and computing solutions directly to customers across several sectors.
These include automotive, maritime, energy and government applications.
The technology could help address connectivity gaps in areas where traditional networks have limited coverage. Potential applications include vehicle telematics, fleet tracking, infrastructure monitoring and disaster response.
Elveo Building Global Satellite Network
Lunar Holdco was established in January 2026 following the merger of Lynk Global and Omnispace.
The company is currently developing a global S-band Non-Geostationary Satellite Orbit (NGSO) network and remains a pre-revenue company.
Elveo CEO Ramu Potarazu said the partnership with Nelco would help expand the company’s communications solutions into enterprise sectors such as automotive, telecommunications, infrastructure and other mission-critical industries.
Tata Group Could Benefit From Wider Partnership
The agreement could also create opportunities for Elveo to work with other Tata Group companies across global markets.
Nelco’s investment gives the Tata Group a stronger position in the emerging Direct-to-Device satellite communications market, while Elveo gains a potential route into the Indian and wider South Asian enterprise connectivity markets.
The partnership comes as satellite-based connectivity continues to expand beyond traditional broadband services, with D2D and IoT technologies expected to play a growing role in connecting vehicles, infrastructure, devices and remote locations.
