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Venture capital arm of US aircraft manufacturer Boeing has invested in Myriota, a nanosatellite technology startup based in Australia with a focus on the “Internet of Things” connectivity in remote locations.
Reports said this was the first investment Boeing’s HorizonX Ventures arm had made in a company outside of the United States. Terms of the investment were undisclosed but Myriota raised $15 million in the Series A funding round with HorizonX as a participant.
Myriota designed its technology to enable two-way communications between ground-based micro-transmitters and nanosatellites in low Earth orbit to securely share data over narrow bandwidths.