Redmond-based antenna developer raises US$50 million
Kymeta, a Redmond-based satellite antenna developer, said it had raised $50 million in capital. Kymeta is an Intellectual Visions spinoff company which was created in August of 2012 when it successfully raised US$12 million in capital for its mTenna product line. The mTenna was designed to streamline satellite connections for faster broadband Internet across the world.
The company had previously received capital from investors that included Bill Gates, Liberty Global, and Lux Capital. Now, new investors including, The Kresge Foundation and Osage University Partners, have joined the packThey
The company has its metamaterials patented and is using them to make antennas and receptors smaller, lighter, more efficient while making it cheaper. The company ultimately wants to enable easier Internet access by building receptors for trucks, boats, trains, airplanes, and cars.
Bob McCambridge, the company's chief operating officer and president said, "There are many applications where our technology can take time, cost, power consumption out of the current solutions that are in the marketplace."