Washington based Kymeta Corporation, a global communications company secured a US$ 78M investment from Bill Gates, the principal founder of Microsoft Corporation on 25 Aug 2020.
Kymeta had announced the recapitalization of the firm along with the news that it has raised approximately US$ 85M funding. The funding round was led by Bill Gates. Even the members of its leadership team personally invested around US$ 1M, lead by Executive Chairman Doug Hutcheson.
Kymeta plans to utilise the funds to launch a satellite antenna bundle by 2020, on a monthly subscription service for satellite-based internet to Govt. customers for US$ 1,000 per month. The firm has been aiming at aggressive commercialisation of satellite and cellular communications globally for the next generation electronically steered flat panel antenna. Kymeta had also acquired Lepton Global Solutions on 15 Aug 2020.
Hutcheson said, “The company is just scratching the surface of how powerful hybrid satellite-cellular communications can be when combined with an affordable electronically steered flat panel antenna offered to the global land mobility ecosystem.” According to him, Bill Gates is a highly successful technology backer.
Kymeta is a developer of hybrid satellite-cellular networks that are used to satisfy the demand for global mobile connectivity. It is headquartered in Redmond, Washington. Founded in 2012 by Nathan Kundtz, Kymeta sells antennas for installation on cars, trains and boats. Its antennas link with satellites in high orbital altitudes and can link to remote places as well moving planes and vehicles, in contrast to companies like Elon Musk’s SpaceX and Jeff Bezos’ Amazon that are building networks of satellites in low-Earth orbit which is an expensive and high-risk endeavour.
The company leverages the best of satellite and cellular networks and offers low-profile, lightweight, easy to install and virtually maintenance-free solutions regardless of location. Its product is backed by U.S. and international patents and licenses.
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