Technology developed in South Australia is to be used to develop advanced applications for the Internet of Things (IoT). International maritime mapping and data company, exactEarth Ltd., announced last week its intention to invest in AU$2m to secure a minority ownership position in technology company Myriota Pty Ltd of Adelaide, Australia.
The business focus of Myriota is to utilise advanced signal processing Intellectual Property developed at the University of South Australia (UniSA) for the fast growing Satellite Internet of Things (SIoT) global market, which will involve advanced terminals, infrastructure and applications. The UniSA IP is a comparatively low-cost solution that has the potential to disrupt the SIoT marketplace by supporting many millions of global users. Myriota is particularly focused on the location tracking and sensor data applications markets.
The Myriota investment stipulates that exactEarth also receives an exclusive license to utilise the signalling IP in the maritime market. Myriota intends to use exactEarth’s global satellite infrastructure for its space segment and aims to demonstrate initial applications within the next year.
In addition to exactEarth, the Myriota shareholders include founders Dr Alex Grant and Dr David Haley, who led the team at UniSA who developed the enabling technology.
“We expect Myriota’s Satellite Internet of Things solution to enable a wide range of new applications,” said Dr Alex Grant, Myriota CEO. “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.”
exactEarth president Peter Mabson highlighted the potential of satellites for IoT: “exactEarth has already demonstrated that microsatellite constellations can be used to develop a successful high growth advanced global data services business,” he said.
“Our investment in Myriota is well aligned with our strategy to enter the Satellite Internet of Things Market. Between exactEarth’s global satellite technology infrastructure and Myriota’s advanced IoT technology, we will be well positioned to take this new capability to the next level.”