INSUBCONTINENT EXCLUSIVE:
Internet of things satellite connectivity startup Myriota has raises a $19.3 million Series B funding round, led by Hostplus and Main
Sequence Ventures, with additional funding from Boeing, former Australian PM Malcolm Turnbull, Singtel Innov8 and others
The company has now raised $37 million in Funding, and has four satellites on orbit already, with a plan to expand that to 25 by 2022 with
the help of this new funding.Myriota provides low-cost, power efficient direct satellite connectivity for IoT uses, including industrial
applications like equipment monitoring and measurement of environmental measures like groundwater levels
The Adelaide-based company has developed its own proprietary low-over iOT communications technology, that claims big advantages over
existing solutions in terms of battery life, security, scalability and cost.With this new funding, it also hopes to expand headcount, adding
50 percent more employees over the course of the next two years, with a focus on expanding globally to provider service to more
The company has purchased four satellites on orbit from the company and brought on new employees as well as six ground stations located in
new international locations, including in Canada, the United States , Norway, Singapore, Panama and Antarctica.In total, Myriota has a goal
of building out a constellation of 50 IoT satellites to provide global scale and service.
