Kymeta, a US-based satellite broadband provider backed by satellite operator Intelsat and media group Liberty Global, secured $85m in a funding round led by entrepreneur Bill Gates yesterday.
The round also featured approximately $1m from members of Kymeta’s leadership team, including executive chairman Doug Hutcheson.
Founded in 2011, Kymeta has created an electronically steered flat-panel satellite antenna that facilitates broadband satellite connectivity in conjunction with cellular networks to ensure global coverage.
The technology is targeted at clients such as the military, industry and first responders. Kymeta also offers turnkey services to telecommunications firms through its Lepton Global Solutions unit, and the funding will be put into product development.
The company was incubated by commercialisation firm Intellectual Ventures to advance foundational research conducted by then-chief technology officer Nathan Kundtz, an adjunct assistant professor of electrical and computer engineering at Duke University.
Doug Hutcheson said: “As a company, we are 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.
“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.”
Kymeta has raised more than $282m in funding altogether, Intelsat having contributed to a $73.5m round in 2017 together with undisclosed additional investors.
Osage University Partners, Lux Capital, Kresge Foundation, Bill Gates and new, unnamed investors provided $62m in series D funding for the company in 2016, two years after Gates and Lux Capital took part in a $20m round.
Media group Liberty Global had joined Gates, Lux Capital, Osage University Partners and Kresge Foundation in Kymeta’s $50m series C round in 2013. It had already secured $12m in funding from Liberty Global, Lux Capital and Gates the year before.
