VC firms back Australian IIoT start-up

Another University of Queensland-spawned technology start-up has set its sights on international growth - including in the mining market - after receiving A$4.8 million of funding from Blackbird Ventures, Telstra Ventures and Skip Capital.

Staff reporter

MOVUS machine sensor

Telstra Mining Services is one group said to be keen on Brisbane-based industrial Internet of Things (IIoT) company MOVUS's FitMachine sensor technology and software-as-a-service (SaaS) business model. It is also said to be working with three "global mining companies", while MOVUS CEO Brad Parsons believes there is "strong scope" for FitMachine to help miners improve fixed and mobile plant management.