startup raised

Startup raised $19.3 million to create new satellite communications

The company from Australia Myriota is engaged in projects in the field of “Internet of Things”, which is now extremely relevant. Despite the lack of popularity, the prospects of the company have already been evaluated by many investors. Recently, the startup has attracted 19.3 million dollars in the next financial round. Among those who are interested in the idea are investment funds, as well as the former Prime Minister of Australia and the Boeing Corporation.
Myriota is working to provide affordable and quality satellite communications for the “Internet of Things”. The company’s developments include innovative solutions for transmitting information on how equipment can operate anywhere in the world and at great distances from the communication point. All this happens using satellites – they collect data about the right object, and then using special technology to send the information to the cloud. This development does not require much energy, installed on any mobile device, it does not drain the battery.
The practical application of such an innovative solution will be useful for the industrial sector. For example, it is possible to remotely monitor the technology and measure the groundwater level.
Startup Myriota product has attracted the interest of investors, many experts emphasize its prospects and wide practical use. The company will direct the raised funds towards expanding its staff. It is planned to increase the number of employees twice within 2 years, and bring the technology to the international market. In addition, the startup management will soon present a new service, which will allow receiving reports and analytical data in real time.

The company Myriota was founded in 2015 by two partners, during this period it managed to obtain funding of $37 million, thanks to which the company is actively developing and improving its development. This year, the first representative office of the firm outside of Australia – in the United States – was opened.
Startup has purchased 4 satellites from exactEarth from Canada, and it also has mercenary stations in the USA, Antarctica, Norway, Canada and Singapore. Myriota plans to increase the number of satellites to 25 in the near future. To fully implement the project, 50 satellites will be needed.
However, this startup is not the only one in Australia, which creates products using the satellite Internet. Sky and Space Global also works in this area, but it is not as successful as Myriota. The company is currently in bankruptcy. Sky and Space Global planned to launch nanosatellites, but was unable to raise the necessary funds and suffered losses.