Boeing HorizonX adds to its investment in Australia’s Myriota IoT satellite venture


An artist’s conception shows one of Myriota’s satellites in orbit. (Myriota Illustration)

Boeing’s HorizonX venture capital arm is participating in a $19.3 million Series B funding round for Myriota, an Australian startup that’s building a satellite constellation for the Internet of Things. This marks Boeing’s second investment in the company.

  • The new round is led by Hostplus and Main Sequence Ventures, with Boeing joining other investors that include In-Q-Tel, Right Click Capital, Singtel Innov8, South Australian Venture Capital Fund and former Australian Prime Minister Malcolm Turnbull. Myriota’s total funding has reached more than $37 million, including the $15 million Series A round that included Boeing in 2018.
  • Myriota aims to connect billions of devices around the world using low-power communication modules and a constellation of low-cost satellites. Myriota says the Series B investment should help the company boost its constellation to 25 satellites by 2022, and boost its workforce as well.
  • HorizonX is Boeing’s channel for investing in startups working on technologies with potential aerospace applications, ranging from 3-D printing and autonomous systems to satellite communications and hypersonic flight. Boeing doesn’t typically say exactly how much it’s investing, but the figures tend to be in the multimillion-dollar range.

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