South Australian Internet of Things (IoT) nanosatellite startup Myriota has signed a deal with US-listed satellite data company Spire Global.
The deal will see Myriota, which has its own small fleet of nanosatellites, piggyback on Spire’s low-earth orbit nano-satellite network to accelerate its IoT plans.
The Australia company is Spire’s first first large-scale, commercial, IoT-focused customer. Spire, which has offices in the US, Scotland, Luxemburg and Singapore, listed on the NYSE last month and is worth more than A$3 billion.
Spire (NYSE: SPIR) is a global provider of space-based data, analytics, and space services, with one of the world’s largest multi-purpose satellite constellations. They’re equipped with a range of software-defined radios (SDR) that let partners test, deploy, operate, and scale custom applications.
The deal will expand Myriota’s existing coverage in North America, Australia and New Zealand to other markets including Europe. The company, based at Lot 14 in Adelaide, has launched seven nano-satellites into orbit, with the goal of having 44 above the earth by the end of next year.
Spire’s general manager of space services and earth intelligence, Theresa Condor, praised the innovation in the Australian space sector.
“Australia is a hotbed of innovative companies, and it’s gratifying to help a leading satellite connectivity provider go to market quickly and scale up efficiently,” she said.
Myriota launched in 2013 and counts former prime minister Malcolm Turnbull among its investors, along with Right Click Capital, super fund Hostplus and the CSIRO’s VC arm, Main Sequence Ventures.
Having already raised more than $50 million, including $28 million in a Series B in 2020, the company announced earlier this month, that insurer IAG had invested an undisclosed figure in the startup via its VC arm, IAG Firemark Ventures, to bring IoT to Australia’s insurance sector.
The company used Elon Musk’s SpaceX to launch its first satellite in 2018.
It launched the first of its second-generation nanosatellites with Rocket Lab earlier this year.