Myriota, a spinout of South Australia University developing satellite internet-of-things technology, has raised $1.44m in investment from satellite data services firm ExactEarth.
As part of the deal, ExactEarth will receive a licence to use Myriota’s intellectual property for the maritime market while the South Australia company will gain access to ExactEarth’s global satellite infrastructure. ExactEarth will also have the option to increase its shareholding with further investments.
Alex Grant, Myriota’s CEO, said: “We expect Myriota’s Satellite Internet of Things solution to enable a wide range of new applications. We are working on advanced applications in the areas of agriculture, environmental sensing, oil and gas, mining and defence – and we expect that this is just the beginning.”
