Echodyne Corp., a Bellevue, WA-based developer of radar products based on metamaterials technology, raised $15m in funding.
The round was led by Bill Gates and Madrona Venture Group, with participation from Vulcan Capital, Lux Capital, The Kresge Foundation, and others.
The company intends to use the funds to bring its radar products to market.
Co-founded Eben Frankenberg (CEO) and Tom Driscoll (CTO), Echodyne is the fourth spin-out from Intellectual Ventures (IV), the global leader in the business of invention. The company aims to bring to market radar products based on metamaterials* technology invented by IV in collaboration with Duke University and the University of California at San Diego.
*metamaterials are artificially structured materials used to control and manipulate a range of physical phenomena, including electromagnetic radiation.