Kymeta Raises $50 Million In Series C
Kymeta is a company that spun out of Intellectual Ventures, which a patent holding company co-founded by former Microsoft co-founder Nathan Myhrvold, Edward Jung, Peter Detkin, and Greg Gorder. Kymeta has raised $50 million in Series C funding.
Microsoft co-founder Bill Gates, Lux Capital, Liberty Global, Osage University Partners, and The Kresge Foundation are all investors in Kymeta.
Kymeta is known for improving satellite communications through the use of new antenna technology. Kymeta said that they have pioneered the usage of patented metamaterials technology, according to TheNextWeb. Kymeta has an exclusive license from Intellectual Ventures to use the technology to commercialize satellite user terminal products.
“We are fortunate to have earned this level of sponsorship,” stated Kymeta Chief Executive Officer Vern Fotheringham. “It is a clear testament to the progress we’ve made to date proving our unique technology is poised to make significant contributions to the advancement of global broadband connectivity enabling high-speed communication services to businesses, consumers, governments and NGOs regardless of their location worldwide.”