# Myriota

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/myriota-pty

- Industry: Internet
- Headquarters: Adelaide, Australia
- Website: www.myriota.com
- Total disclosed funding: $42M
- Latest round: Series B (Dec 18, 2023)
- Investors on record: 18

## About

Based in Australia, Myriota Pty Ltd provides innovative satellite IoT connectivity solutions to facilitate seamless data transmission across various industries, including agriculture and water management.Founded in 2015 in Adelaide, Australia, Myriota Pty Ltd specializes in satellite IoT connectivity. The company has received a total of 7 funding deals, with the most recent deal occurring on December 19, 2024, where they raised AUD 50 million in a GROWTH funding round led by National Reconstruction Fund, alongside InterValley Ventures and Main Sequence Ventures. The company was co-founded by David Haley (CTO), with Alex Grant and Ben Cade (CEO).Myriota specializes in delivering secure satellite IoT connectivity solutions through its core offerings, which include Myriota HyperPulse and Myriota UltraLite. The Myriota HyperPulse provides high-speed, standards-based connectivity optimized for applications requiring rapid and extensive data transmission, while Myriota UltraLite focuses on ultra-low-cost, low-power connectivity ideal for remote and long-term deployments. These products enable seamless IoT connectivity across various industries, including agriculture, water management, oil and gas, and heavy equipment. The company’s solutions serve a diverse clientele that includes sensor manufacturers, systems integrators, and utility providers, facilitating critical operations such as remote tank monitoring and water consumption management. Myriota's products are utilized in markets such as Australia, Brazil, and the broader Latin American region, ensuring reliable connectivity without the constraints of ground-based infrastructure.Myriota's revenue model is primarily based on subscription services and partnerships, allowing clients to leverage its satellite connectivity solutions effectively. The company engages in direct transactions with businesses that require IoT connectivity, providing tailored solutions to meet their specific needs. Its flagship products, like Myriota HyperPulse and Myriota UltraLite, are offered under structured pricing plans that cater to various deployment scenarios, including agriculture and water management applications. Revenues are generated through these service subscriptions, where clients can access satellite connectivity on a recurring basis, ensuring continuous data transmission and monitoring capabilities. Partnerships with companies such as Grundfos and Taggle Systems further enhance Myriota's revenue streams by integrating its technology into their operational frameworks, thereby reaching a wider customer base across multiple industries.In December 2024, Myriota Pty Ltd raised AUD 50 million in growth funding, which will be used to accelerate worldwide expansion, hire more skilled workers, and enhance manufacturing capabilities. The company plans to launch new products designed for diverse markets, focusing on expanding into regions such as Asia and Europe by 2025.

## Funding rounds

- Series B, Dec 18, 2023, $4.1M — In-Q-Tel, Main Sequence Ventures, Olabella
- Series B, Jul 31, 2020, $23M — Insurance Australia Group, Hostplus, Right Click Capital, In-Q-Tel, Singtel Innov8, HorizonX Ventures, Government of South Australia, InterValley Ventures, Main Sequence Ventures, exactEarth Ltd., MSC Abacus, Ridgeline Ventures, Turnbull & Partners, SFO Ventures, IQTI LLC, Ardaco Pty Ltd
- Series A, Mar 23, 2018, $15M — Blue Sky, Right Click Capital, Singtel Innov8, HorizonX Ventures, Main Sequence Ventures

## Investors

- Blue Sky (https://capitalatlas.ai/funds/blue-sky) — Series A
- Right Click Capital (https://capitalatlas.ai/funds/right-click-capital) — Series A, Series B
- Singtel Innov8 (https://capitalatlas.ai/funds/singtel-innov8) — Series A, Series B
- HorizonX Ventures (https://capitalatlas.ai/funds/horizonx-ventures) — Series A, Series B
- Main Sequence Ventures (https://capitalatlas.ai/funds/main-sequence-ventures) — Series A, Series B
- Insurance Australia Group — Series B
- Hostplus — Series B
- In-Q-Tel (https://capitalatlas.ai/funds/in-q-tel) — Series B
- Government of South Australia — Series B
- InterValley Ventures (https://capitalatlas.ai/funds/intervalley-ventures) — Series B
- exactEarth Ltd. — Series B
- MSC Abacus — Series B
- Ridgeline Ventures (https://capitalatlas.ai/funds/ridgeline-ventures) — Series B
- Turnbull & Partners — Series B
- SFO Ventures — Series B
- IQTI LLC — Series B
- Ardaco Pty Ltd — Series B
- Olabella — Series B