Home Funding Washington based Kymeta secures US$ 30 million equity financing

Washington based Kymeta secures US$ 30 million equity financing

Washington based Kymeta secures US4 30 million equity financing
Washington based Kymeta secures US4 30 million equity financing

A Washington based communications enterprise, Kymeta based in Redmond announced receiving US$30 million equity funding on 28th December 2020. The equity financing is offered from South Korea based Hanwha Systems; a leading total solutions company that provides differentiated smart technologies and information infrastructure and defence electronics. The deal also includes Hanwha Systems, a place on the Kymeta Director’s Board with the capital funding and regulatory approvals. 

Kymeta intends to use this freshly raised investment for further developing their next gen solutions, Kymeta Connect and Kymeta u8. They are also going to invest in increasing unit production, enhancing their customer experience and supporting the ongoing development for their next gen capabilities. 

This investment from Hanwha Systems, HSC is aimed at marking the presence in the LEO or the Low Earth Orbit antenna market. The equity investment is also followed with the commercial availability of the company’s next generation antenna services and terminal on 30th November 2020. The launch of the company’s next gen solution was built on the deployment of their beta program earlier this year successfully for felicitating real-world testing. This beta testing demonstrated throughput of around 45 mbps with use scan of angles of around 50 degrees which is a quite remarkable achievement for any of such low powered electronically steered antenna platforms of  <150 W.

Founded in 2012, Kymeta is unlocking the satellite connectivity potential in cooperation with the cellular networks for satisfying the demand for global mobile connectivity. The company offers a flat panel satellite antenna which is unique in its kind and Kymeta Connect, connectivity service provided for exceptional mobile connectivity on various hybrid cellular networks and satellites for the customers across the globe. Kymeta is supported by both US and international patents & licenses. Their terminal addresses the requirement for lightweight thin and high output communication systems that do not need mechanical components for steering towards a satellite. They make connectivity easier than ever from any vessel fixed or vehicle platform. 

Kymeta has been awarded with the AHEAD Innovators award, Frost & Sullivan award and New Product Innovation award in 2016. They have also been known by CNBC disruptor for two years consecutively, FiReStarter (Strategic News Network) and also a top 50 MIT Technology Review Disruptive Enterprise.

The company has formed valuable partnerships with many industrial leaders like Inmarsat, Toyota Airbus Defence, Shark, o3b, Toyota and many more. Based in Redmond Washington, the company provides comprehensive connectivity solutions globally. 

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