Kymeta Corporation
Secures Approximately $85 Million Financing
Round to Accelerate Growth, with Funding from
Bill Gates
August 25
Kymeta Corporation
announced the recapitalization of the company
along with the successful funding raise of
approximately $85 million, led by Bill Gates
with members of the leadership team personally
investing approximately $1 million led by
Executive Chairman, Doug Hutcheson.
Since its launch of the
revolutionary electronically steered flat panel
antenna platform, Kymeta™ continues to
strengthen and accelerate new product
development and commercialization for satellite
and cellular communications globally. Meeting
the needs of current and future customers drives
new product innovation and market development
and are key areas of focus for Kymeta.
The financing builds on an
extraordinary 18-month period for Kymeta, which
saw a rapidly growing influx of new customers,
the appointment of key executives, new product
releases and market momentum in the areas of
defense, public safety and land mobility.
Kymeta’s channel network grew to include over
one hundred reseller partners and several
defense and commercial customers around the
globe.
“As a company, we’re just
scratching the surface of how powerful hybrid
satellite-cellular communications can be when
combined with an affordable electronically
steered flat panel antenna offered to the global
land mobility ecosystem,” said Doug Hutcheson,
Executive Chairman, Kymeta. “Having the
continued support of Bill Gates will help us
execute our vision even more rapidly and broadly
– and with the benefit of experience,
perspective and relationships of a leading and
highly successful technology backer.”
The new u8 terminal paired
with Kymeta’s hybrid satellite-cellular
connectivity services, Kymeta Connect™,
transforms the purchase and consumption of
mobile data with an all-inclusive hardware,
connectivity and services monthly subscription.
The Kymeta™ u8 is the world’s only commercially
available flat panel electronically steered
antenna built specifically for mobility and
designed for the needs of military, first
responders and commercial customers.
Key features and benefits
of the Kymeta u8 terminal and Kymeta Connect
platform also include 2 GHz support across the
full Ku-Band, improved performance and
efficiency which translates into lower total
cost of ownership, integrated hybrid
satellite-cellular hardware for always-on
connectivity and turnkey Kymeta Connect options
that include hardware, connectivity and service
with affordable purchasing options.