Binary Tech develops 5G NB-IoT mobile asset-tracking devices originally created to track beer kegs. Its hardware and software monitor location, temperature and product condition, delivering actionable insights to customers. The company serves sectors including AgTech, fast-moving consumer goods, health, telecommunications and waste management and has installations with blue-chip clients worldwide. Founder Michael Burton self-funded the business for its first years and secured initial support from the iAccelerate Seed Fund. Binary Tech plans to roll out broader supply-chain IoT deployments and accelerate global growth with the new capital. The company is based at iAccelerate, the University of Wollongong’s innovation campus.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2022