Main Sequence Ventures returned to co-lead Myriota's series B round, bringing the University of South Australia spinout's total funding to more than $37m.
Myriota, an Australia-based satellite internet-of-things (IoT) connectivity spinout of University of South Australia, yesterday obtained $19.3m of series B capital from investors co-led by Main Sequence Ventures, the venture firm aligned to Csiro.
Pension fund Hostplus co-led the round with participation from Boeing HorizonX Ventures and Singtel Innov8, the corporate venturing divisions of aerospace technology supplier Boeing and telecoms firm Singtel.
In-Q-Tel, the strategic affiliate of the US intelligence community, state government-owned South Australian Venture Capital Fund, VC firm Right Click Capital and former Australian prime minister Malcolm Turnbull filled out the round.
Founded in 2015, Myriota runs a fleet of small satellites that exchange data with industrial IoT devices in segments such as agriculture, mining, transport and logistics.
The satellites target remote locations poorly served by wired infrastructure and link to energy-efficient ground terminals in order to facilitate low-power IoT configurations.
The series B…
