Myriota, an Adelaide, Australia-based provider of nano-satellite internet of things (IoT) connectivity, closed a US$15m Series A funding round.
The round was led by Main Sequence Ventures and Blue Sky Venture Capital with participation from Boeing HorizonX Ventures, Singtel Innov8 and Right Click Capital.
The company plans to use the funds to accelerate its growth by:
– launching more satellites,
– delivering large-scale IoT deployments, and
– expanding its global operations opening new sales and customer support offices in North America and Asia, and adding at least 50 new staff.
Founded in 2015 as a spin-out from the University of South Australia and led by CEO Dr Alex Grant, Myriota aims to create a key communications network for the global IoT sector by developing a number of Space 2.0 projects across a diverse ranges of sectors, including black box type recorders for Australian Army soldiers, water tank monitors for farmers, asset tracking and environmental monitoring.