Spire Global Gains Myriota As New Customer For Satellite Platform

Spire Global Inc SPIR has partnered with Myriota, an Adelaide-based provider of secure, low-cost, and long battery life satellite connectivity for the Internet of Things (IoT).
Spire Global noted Myriota as its first large-scale, commercial, IoT-focused customer.
Myriota will use Spire's existing satellite platform and scale the Myriota Network as Spire deploys new satellites.
By leveraging Spire's constellation and global operations platform, Myriota expects to quickly and cost-effectively scale its IoT services to meet rising global demand.
The company's stock has gained over 66% over the week.
Price Action: SPIR shares are trading higher by 15.2 at $17.59 on the last check Wednesday.