Boeing HorizonX, the venture capital arm of the aerospace powerhouse Boeing, recently provided investment to Australian startup Myriota’s advancements in satellite technology for the Internet of Things (IoT) sector. By 2020, more than 20 billion connected things will be in use worldwide. Satellite technology will place a critical role in supporting the development of the IoT sector and realizing the full potential of interconnected devices. Already the epicenter for cloud computing, Greater Seattle is poised to be a hotbed for the IoT sector.
The funding goes towards the launching of Myriota’s newly developed technology that utilizes low cost micro-transmitters to forward data to a constellation of satellites to provide affordable and accessible Internet of Things (IOT) connectivity to its consumers. For example, this new technology could enable the military to pinpoint the precise location of injured soldiers or allow farmers to know how full their water tanks are.
This is not the 1st time Boeing has teamed up with an Australian company to develop technology to further the industry. Boeing has a long-running partnership with the Commonwealth Scientific and Industrial Research Organization (CSIRO), headquartered in Australia and member of TDA, and has worked with them to develop a wide range of aerospace projects including a spray-on re-coating technology that reduces airport disruption, airspace congestion, and conflict avoidance. Additionally, it has established Queensland, Australia as its test bed for autonomous systems development and made a 5-year commitment with Techstars, a global accelerator program in Adelaide, Australia, to fund advancing innovations in Australia.
According to the International Trade Administration, Washington State is Australia’s 4th largest export partner as of 2017.