xactEarth Ltd., the leading provider of Satellite AIS data services, has announced that it was investing AUD $2M to secure a minority ownership position in technology company, Myriota Pty Ltd of Adelaide, Australia.
The business focus of Myriota was to utilise advanced signal processing Intellectual Property developed at the University of South Australia (UniSA) in order to develop advanced terminals, infrastructure and applications for the fast growing Satellite Internet of Things (SIoT) global market. This core IP had been developed to create a disruptively low-cost solution for this marketplace which will have the capability of supporting many millions of global users. Myriota was particularly focused on the location tracking and sensor data applications markets.
In addition to exactEarth the other shareholders of Myriota were UniSA Ventures and founders Dr Alex Grant and Dr David Haley, who, while at UniSA, had led the team which had developed this ground-breaking technology. Myriota intended to use exactEarth’s global satellite infrastructure for its space segment and aimed to demonstrate initial applications within the next year.
“exactEarth has already demonstrated that microsatellite constellations can be used to develop a successful high growth advanced global data services business,” said Peter Mabson, exactEarth President. “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.”
Established in 2009, exactEarth was a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions.
Image Credit: exactEarth