Myriota, an Adelaide, Australia-based provider of low-cost and low-power satellite connectivity solutions for the Internet of Things (IoT), raised $19.3M USD in Series B funding.
The round, which brings total funding to more than $37M, was led by Hostplus and Main Sequence Ventures, with participation from In-Q-Tel, Inc., Right Click Capital, Singtel Innov8, Boeing HorizonX, South Australian Venture Capital Fund, and Malcolm Turnbull.
The company intends to use the funds to scale its platform, bolster its constellation of satellites to 25 by 2022, grow its headcount and expand internationally.
Led by Alex Grant, Co-founder and CEO, Myriota provides low-cost and low-power satellite connectivity solutions for Internet of Things (IoT) industry use cases, from asset tracking, to measuring groundwater levels, to keeping tabs on weather stations, to remote infrastructure management, across multiple industries, such as agriculture, defense, mining, transport & logistics, and more.
The company has a portfolio of more than 60 national patents.
FinSMEs
06/04/2020