Kymeta Closes $12M Funding

Published On August 21, 2012 |

Kymeta, a Redmond, Wash.-based company that spun out from Intellectual Ventures (IV) to commercialize a new form of metamaterials-based satellite antenna, has closed a $12m funding round.

Backers include Bill Gates, Liberty Global and Lux Capital.

The company intends to use the funding to develop and bring to market IV’s Metamaterials Surface Antenna Technology (MSA-T).

Led by Vern Fotheringham, president and CEO, Kymeta plans to commercialize a new form of metamaterials-based satellite antenna. Its mTenna products, which are currently in development with commercial availability expected by 2015, intend to simplify the connection between mobile users and high capacity communications satellites, providing passengers with a broadband experience in cars, planes and other vehicles.
In addition to mobile applications in the aerospace, transportation and maritime industries, the company also plans to develop a portable satellite hotspot product for individual users with benefits for news reporters in the field, emergency responders in disaster areas, or average consumers looking to untether from public Wi-Fi and mobile broadband signals.

FinSMEs

21/08/2012

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