Intellectual property firm Intellectual Ventures (IV) has announced that it has raised a $12m venture round to launch its spinoff Kymeta which attracted investment from Bill Gates.
Joining Microsoft’s chairman and founder are Liberty Global, an international media company owned by investor John C. Malone, and Lux Capital, a venture firm that invests in early-stage tech companies.
IV, which was founded by former Microsoft executive Nathan Myhrvold, will also remain as an investor in the company.
Kymeta will be developing surface antenna technology, which will enable easier use of satellites for mobile broadband internet connections. The Washington-based firm is looking to use metamaterials in their devices, which is an area of scientific research that has seen rapid advances over the past couple of years.
Announcing the launch on IV’s blog, Adriane Brown, president and chief operating officer for IV, said: “For the better part of a decade, we’ve collaborated with experts from around the world to explore the potential of a fascinating branch of science called metamaterials and how it can be used for commercial purposes. Kymeta is the result of our patience and persistence. Based on IV’s metamaterials satellite antenna technology (MSA-T), Kymeta’s mTenna products will simplify the satellite connections needed for broadband Internet on the go, anywhere in the world.”