Kymeta Spins Out Of Intellectual Ventures, Raises $12M From Liberty Global, Lux Capital, and Bill Gates
Intellectual Ventures is known for having a massive patent trove and for filing a huge lawsuit against multiple companies. Intellectual is spinning off Kymeta, an antenna technology company. Kymeta has raised $12 million in funding from Liberty Global, Lux Capital, and Microsoft co-founder Bill Gates. Kymeta uses metamaterials to build antennas to improve satellite connections used for broadband Internet.
“Metamaterials were an early focus for I.V., so the spinout of Kymeta marks an important milestone in our invention work,” said Intellectual Ventures executive vice president Casey T. Tegreene. “As groundbreaking as it is, though, the satellite antenna technology behind Kymeta only scratches the surface of what metamaterials can do.”
Intellectual Ventures has received funding from companies like Microsoft, Apple, and Cisco. Intellectual Ventures also spun out a company called TerraPower in 2008.
[NY Times]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry