US-based satellite antenna technology developer Kymeta has raised $73.5m from investors including satellite operator Intelsat, GeekWire has reported.
The other investors in the round have not been disclosed. Dianne VanBeber, vice-president of investor relations and communications for Intelsat, told GeekWire: “We are only a modest portion of the equity raise,”
“We are not disclosing the exact amount, but it was not at a level of materiality such that we would have needed to disclose it in our annual filing with the SEC.”
Spun out of intellectual property promoter Intellectual Ventures in 2012, Kymeta is working on software-enabled electronic beamforming antennas and terminals made from metamaterials that will be used for satellite communication.
The funding, first revealed through a securities filing, follows a partnership formed by Kymeta and Intelsat last month to launch a service called Kālo that will offer satellite connectivity in a similar way to how cellular services are sold.
Kymeta had previously raised $144m in funding, including $12m at the time of its launch that was supplied by media group Liberty Global, Lux Capital and Microsoft founder Bill Gates.
The same three investors also took part in a $50m round the following year that included Osage University Partners and Kresage Foundation.
– Image courtesy of Kymeta Corporation