• The National Reconstruction Fund Corporation (NRFC) has announced a $25 million equity investment in Myriota, a South Australia-based global telecommunications provider. 
  • The NRFC’s investment will be used by Myriota to develop its network technologies and infrastructure, and ramp Australian-based manufacturing of its advanced hardware for global export. 
  • The NRFC’s investment will enable Myriota to scale to 100 high-skilled jobs in Australia, with the majority based at its Advanced Manufacturing Base in South Australia.

The NRFC is growing the enabling capabilities that support Australia’s telecommunications and space sectors while helping businesses across regional areas enhance their productivity. This is being done through a $25 million equity investment in Myriota, a South Australia-based pioneer in novel telecommunication types focussed on delivering intelligence on real world, field-based conditions through remote sensing. 

The NRFC’s investment will be used by Myriota to scale Australian-based manufacturing of its advanced developer-ready hardware for high volume, global distribution. With the satellite Internet of Things (IoT) market predicted to grow tenfold over the next decade to 57.7 million IoT connections by 2032, this capability expansion will ensure Myriota is ready to support their partner ecosystem to scale in line with the industry growth and capture the global opportunity. 

Myriota’s technology empowers businesses with the ability to monitor and manage equipment and resources in areas without traditional internet coverage. Myriota achieves this by connecting a fast-growing ecosystem of “ready to use” solutions, designed and certified by partners, to its satellite-enabled network. 

Their cutting-edge IoT connectivity is already enabling use cases across critical industries with partners in livestock and crop farming, industrial, mining and extreme environment monitoring, and enhanced situational awareness across government sectors such as water agencies, border security, rail and road, and meteorology. 

The deal will also enable Myriota to grow its satellite and ground link networks in Australia and overseas and expand its offerings with AI augmented advancements to its self-optimising network to seamlessly extract and deliver high value data insights to partners. 

NRFC Chair Martijn Wilder AM said, “Data is one of the most valuable commodities for any modern business. Myriota’s solutions provide businesses with crucial data from infrastructure located in remote and regional areas, saving time and money and giving them the valuable insights they need to improve productivity and efficiency. Myriota’s experience with offering connectivity that bridges the vast distances in regional Australia make it uniquely positioned to export its hardware and technology to the rest of the world.”

The NRFC’s investment is part of a $50 million capital raise being undertaken by Myriota. The funding round enables Myriota to scale to 100 high-skilled jobs at its Advanced Manufacturing Base in South Australia, including engineers, software and hardware developers, and data networking and satellite communications professionals.

“Myriota’s technology is based on research and development originally conducted at the University of South Australia. By investing in companies such as Myriota, the NRFC is helping to commercialise Australian innovation that directly translates into high-skilled jobs and creates significant benefits for regional Australians,” Mr Wilder AM said.

Myriota CEO Ben Cade said, “Myriota is excited to partner with the NRFC in this next phase of growth. The Internet of Things (IoT) has been revolutionary in providing businesses, Government, and society at large with crucial information to better manage critical resources and assets.” 

“Unlike connectivity for mobile phones and the smart home, enabling mobile and remote IoT applications means we need to light up the 85% of the world not covered by traditional cell towers.” 

“Myriota is redefining the capability and scale of IoT using the global reach of space, and in so doing, force multiplying its positive impact to industry and society alike. This investment from the NRFC will allow us to supercharge the Myriota service offering and, together with our partner ecosystem, connect critical sensor data everywhere, to everywhere it’s needed,” Mr Cade said.

NRFC Chief Investment Officer Dr Mary Manning said, “The NRFC is delighted to add Myriota to our portfolio of investments in the enabling capabilities priority area. The NRFC’s $25 million investment provides Myriota with considerable momentum to attract further private capital as it continues its impressive growth trajectory.”

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Media contact: media@nrf.gov.au

About the National Reconstruction Fund Corporation (NRFC) 
The NRFC invests to diversify and transform Australia’s industry and economy. It has $15 billion to invest using direct loans, equity investments and loan guarantees. The NRFC can invest in seven priority areas including value-add in resources; transport; medical science; defence capability; renewables and low emission technologies; value-add in agriculture, forestry and fisheries; and enabling capabilities.  

The NRFC’s role is to invest in Australian businesses and projects that design, refine and make to transform capability, grow jobs and a skilled workforce, and diversify our economy. The NRFC is a corporate Commonwealth entity, established by the National Reconstruction Fund Corporation Act 2023 (NRFC Act) in September 2023.  

For more information, visit nrf.gov.au

About Myriota 
Myriota is a global leader in low-cost, low-power, secure direct-to-orbit satellite connectivity for the Internet of Things (IoT), and small power-constrained devices.

Founded in 2015, Myriota’s space-based network delivers scalable, affordable IoT data services and energy-efficient hardware that is essential for sectors such as agriculture, logistics, water management and environmental conservation. 

For more information, visit myriota.com(Opens in a new tab/window)