Myriota builds low-cost, power-efficient direct satellite connectivity for IoT uses, including industrial equipment monitoring and environmental measurements such as groundwater levels. The Adelaide-based company has developed proprietary low-over IoT communications technology that it says improves battery life, security, scalability and cost versus existing solutions. Myriota already has four satellites on orbit and purchased four additional on-orbit satellites and six ground stations from exactEarth to accelerate international coverage. The company plans to expand its constellation to 25 satellites by 2022 and has a longer-term goal of 50 IoT satellites to provide global scale. With the new funding it intends to grow headcount by about 50% over the next two years, expand globally into more markets, and build out product capabilities to enable real-time reporting across its offerings. To date Myriota has raised $37 million in total funding. Myriota is an Adelaide-based company that provides nano-satellite IoT connectivity. It was founded in 2015 as a spin-out from the University of South Australia and is led by CEO Dr Alex Grant. The company is building a communications network for the global IoT sector and developing multiple Space 2.0 projects across sectors, including black-box recorders for Australian Army soldiers, water-tank monitors for farmers, asset tracking and environmental monitoring. Myriota closed a US$15M Series A to accelerate its growth. The company plans to use the funds to launch more satellites, deliver large-scale IoT deployments, and expand global operations by opening sales and customer support offices in North America and Asia. It also intends to add at least 50 new staff.

Total raised

$34M

Funding rounds

2

Latest round

Series B

Latest activity

Apr 2020