A visual representation of Myriota’s network; low power sensing devices connect via satellite to deliver critical data.

Overview

  • Right Click Capital is a Sydney-based venture capital firm that invests in standout Australian technology founders.
  • Myriota is an Adelaide-based innovator using a satellite network to deliver low-cost, low-power IoT connectivity solutions globally.
  • Right Click first invested in Myriota in March 2018 through the ESVCLP program.

About Right Click Capital

Right Click Capital backs technology-based startups from an early stage – usually with pre-seed or seed funding. It views investment as a long-term relationship and works closely with investees at each stage of commercialisation.

What’s the best order to do things in? How soon do we start talking to customers? What do we need to prove out before that? When can we start charging? When will it be good and dependable enough to get into the hands of users? We help with all that.
— Benjamin Chong, Partner, Right Click Capital

With the experience of 2 decades and over 40 investments to draw on, Right Click is clear about what it looks for in a startup.

With Myriota, ‘We were impressed by the calibre of the founders,’ says Mr Chong. The technology was also compelling.

The geographic situation in Australia, the vast distances, inspired them to come up with solutions for situations where you don’t have normal access to infrastructure and connectivity. What’s very exciting to us is the ability to provide people who would not have had access to it with the kind of coverage you could only have dreamt of before – at a very attractive price point.
— Benjamin Chong, Partner, Right Click Capital

Myriota’s sensor technology

Founded in 2015 as a spin-out from the University of South Australia, Myriota enables remote use of sensor technologies anywhere on earth at an affordable cost. Previously this was prohibitively expensive for most potential users.

The company’s founders, Dr David Haley and Dr Alex Grant, developed technology that enables satellites to pick up a very faint signal from a ground sensor. Combining this with smart transmission capabilities that conserve battery life has made it possible to provide satellite connectivity for IoT devices at a small fraction of the cost of other solutions.

Myriota’s satellite network enables data services through low-energy devices in areas without existing communications infrastructure. This is a game changer for sectors such as agriculture, logistics, utilities, water management, defence, and environmental management.

We’re redefining business models by making it cost-effective for businesses to track and access their data.
— Nicole Russo, VP Commercial Operations, Myriota

For example, if a livestock water tank in a remote cattle grazing area runs out of water, animals can die before anyone realises there’s a problem or can get there to fix it. A solution to this now exists in the form of a small device. This contains a sensor that transmits data via Myriota’s satellites to an app on the grazier’s mobile phone.

Similar solutions are being used at thousands of sites around the world – from Patagonia to a Kenyan safari park – to monitor things like:

  • wind turbines
  • groundwater levels
  • oceanographic information
  • asset location
  • fire risks
  • dams
  • mine sites.

The company is scaling up quickly in both product and market development and has received significant investment from the UK and US governments. While most of its customers are overseas, 100% of its manufacturing is in Australia.

Myriota anticipates a future where low-cost, near-real-time sensor data is in reach. ‘Once we get to that point, there won’t be an industry that won’t see the benefits of using this technology,’ says Ms Russo.

Early Stage Venture Capital Limited Partnerships

The Australian Government’s ESVCLP program provides tax incentives that help venture capital firms to invest in innovative Australian companies at an early stage of commercialisation. As well as investing capital, firms like Right Click contribute valuable insights, strategic advice and connections to their networks in Australia and overseas.

‘Without venture capital we wouldn’t have been able to get off the ground,’ says Ms Russo. The funding is only part of the value, however.

We vet our potential investors very carefully for their ability to be a true strategic partner – not just a source of capital. What do you want from an investor? You want a partner who can help introduce you to the right people and markets. You want one who can challenge conventional thinking. You want insights from their experience of working with other companies.
— Nicole Russo, VP Commercial Operations, Myriota

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