Other investors include the CIA's venture capital arm In-Q-Tel, Right Click Capital, South Australian Venture Capital Fund, Singtel Innov8, Boeing HorizonX, and former prime minister Malcolm Turnbull.
Myriota said an indication of its strength in the market was the fact that most of those putting in funds were returning investors, with the exception being In-Q-Tel. Google co-founder Sergei Brin also received backing from In-Q-Tel during his research on the algorithm that was used to set up the search behemoth.
This new round of funding brings Myriota’s total funding to more than $50 million AUD. The company's Canadian subsidiary recently entered into an agreement with global maritime vessel data provider exactEarth to purchase satellite communications assets.
Myriota co-founders Dr David Haley and Dr Alex Grant. Supplied
“This is a critical time for IoT. Presently, 90% of the Earth’s surface lacks connectivity," said Myriota co-founder and chief executive Alex Grant.
"At Myriota, we’ve been focused on filling that gap and overcoming constraints in existing infrastructure.
"With this new round of funding, we’ll continue to grow our network of satellites to deliver an affordable, environmentally friendly, and powerful solution to make data accessible for our global customer base.”
Hostplus chief investment officer Sam Sicilia said: "Investing in the potential of Australian businesses is important to us, and rarely do we have the opportunity to invest in a company that has such an immense global impact.
“We believe in Myriota’s vision to make data accessible for all, as well as the impact Myriota’s low-power satellite connectivity is already having on essential industries. We’re thrilled to help Myriota rapidly scale and connect billions of IoT devices across the world.”
Turnbull said: "Myriota is a leader and innovator in low-cost, low-power IoT. They have paved the way in bringing products to market for global and local applications, both here in Australia's flourishing space sector and across the world.
"Myriota’s growth plans will only strengthen its ability to provide industry-leading connectivity across its network of international partners.”