MYRIOTA: SAVCF Portfolio Company Profile
90% of the earth’s surface has no Internet of Things (IoT) connectivity. Existing technology is too expensive, can’t scale, and has insufficiently short battery life. Myriota was founded to revolutionise the IoT by offering disruptively low-cost and long battery life global connectivity.
Myriota is a global leader in low-cost, low-power, secure direct-to-orbit satellite connectivity for the IoT. With deep heritage in telecommunications research, Myriota achieved the world-first transmission of IoT data direct-to-orbit nanosatellite in 2013. The company’s direct-to-orbit patented satellite IoT connectivity makes data accessible to everyone by land, air or sea.
The South Australian Venture Capital Fund (“SAVCF”) invested in Myriota in March 2018. Alongside other investors including Hostplus, Main Sequence Ventures, In-Q-Tel, Inc., Right Click Capital, Singtel Innov8 and Boeing HorizonX, the SAVCF provided funding in the company’s Series B round. Further information on Myriota’s Series B round can be found here
Why the IoT and Space Sector?
Space is a sector that is undergoing a major revolution with rapidly expanding commercial opportunities. The combined benefits of lower cost infrastructure, technological advances and movement from government support to commercial ventures is expanding the potential applications for satellites. .
Increasing global demand for downstream data analytics and communication continues to drive growth of the industry. Since the SAVCF first invested in Myriota, the number of nano satellite launches has increased from 244 to 431 in 2019. As can be seen in the graph above, this trend is expected to continue with 545 nano satellite launches anticipated in 2023.
For a variety of processes including asset tracking, measuring groundwater levels, keeping tabs on weather stations, and remote infrastructure management – sharing and receiving data from remote locations is notoriously time-consuming and expensive.
Myriota has pioneered a new way to retrieve data from anywhere on earth through the connectivity between its constellation of satellites and low-power IoT modules, revolutionizing the way companies share information across multiple industries, such as agriculture, defense, mining, transport & logistics, and more.
Myriota’s network of IoT solutions helps companies across multiple industries realize maximum efficiency and potential, where previously there were cost-prohibitive barriers to urgent solutions. In particular the company’s ability to send a signal direct to satellite instead of through terrestrial networks, with a low energy/battery technology enables low cost monitoring, without tedious battery changing, irrespective of where the monitored item sits.
Myriota plans to accelerate its growth by increasing its current constellation of satellites, delivering revolutionary large-scale IoT deployments, and expanding its global operations.
Myriota’s Executive Team
Myriota has a strong executive team with deep technical expertise and complimentary commercial skills gained in the telecommunications, manufacturing, retail and agricultural industries.
Since 2018 Myriota has grown its team from 9 to 40 staff, and appointed Pam Melroy, former NASA astronaut and one of the only two women to ever command a space shuttle, to the Board.
We believe Myriota has key advantages in the market and a strong team that makes it well placed to capture this growing opportunity.