Who They Are
Hailing out of Australia Myriota may be a new tech company to look out for. Straight from their website, “Myriota was founded to revolutionise the Internet of Things (IoT) by offering disruptively low-cost and long-battery-life global connectivity.”
(The internet of things is basically how electronics connect. For example smart thermostats or smart fitness devices. Items that collect data and connect to the internet for it to be retrieved are apart of the IoT)
So why Myriota
- For starters, they got actually funding! As of April 6th, they have raised $37 million of funding.
- They will be using smallsats and flying to LEO, so their costs should be lower.
- The IoT industry is only getting bigger so they can be a major player in future smart technology
- Lastly, but probably most importantly. They have spectrum Licenses. (Quick tip: if you are looking at a commercial space company make sure they have a spectrum license otherwise, they can’t go to space.)
External Factors
Myriota is doing a lot of things right internally, but some external factors are making them worth a real consideration for investment if they go public.
Earlier I mentioned that the IoT industry is getting bigger but how much bigger is it actually getting?
According to FortuneBusinessInsights, “The global IoT was valued at US$ 190.0 BN in 2018, and it is anticipated to reach to US$ 1,102.6 BN but 2026 at a CAGR of 24.7% during the forecast period (2019-2026)”
If Myriota can get their satellites up and working, they can potentially capture a lot of this new market.
Double edge sword
On April 7th SpaceNews reported that Sky and Space Global a would be direct competitor effectively filed for bankruptcy. (It is an Australian company, so there are different procedures)
On the bright side, that is one less competitor the Myriota has to deal with, but on the flip side, Sky and Space Global had raised $29.1 million and still failed.
Bottom Line
If Myriota does decide to go public at some point, you should be ready to invest or at least keep an eye out for them.