Kymeta Corporation Secures Additional $84 Million in Equity Financing
The investment will further enhance, advance, and accelerate Kymeta’s growth and production of next-generation products and services including the low Earth orbit (LEO) upgrade path and other solutions of the future
REDMOND, Wash.–(BUSINESS WIRE), March 15, 2022–Kymeta, a world leading company for flat panel antennas that make mobile global, announced today the closing of additional equity funding totaling approximately $84 million, led by Bill Gates and participation by Hanwha Systems, among other investors.
The multi-million-dollar investment will be used to drive Kymeta’s innovations forward, accelerate the production of its innovative electronically-steered flat panel technology and further evolve the company’s growth as it prepares to expand its offerings for LEO and defense customers. With this financing, the company is also nearing fully funded and will allow Kymeta to expand its manufacturing capacity to meet increasing customer demand for Kymeta’s flat panel antennas while continuing to evolve the u8 product line in the Ku-band as well as bring the same complete product family into the Ka-band in the future.
“Kymeta’s growth opportunities continue to multiply as we develop, deliver, and launch innovative products into the market to great success,” said S. Douglas Hutcheson, Executive Chairman and Co-CEO of Kymeta. “This is an exciting period for Investors as they see the growing enthusiasm for our products as we continue to hit our milestones and this strong financial backing is another testament to that. Our technology advancements give Kymeta a competitive advantage and we are excited to continue in the development of both our second-generation u8 product family and third-generation technology that promises to provide even higher efficiencies and lower costs for our customers.”
Today, Kymeta offers the world’s only high-bandwidth, low power, fully integrated family of high throughput mobile terminals widely adopted by Military, Government, Enterprise and Maritime customers globally. Kymeta’s unique metamaterial-based antenna, terminal, and services are used across multiple verticals and markets around the world and support satellite, cellular, and multi-orbit mobile connectivity—from LEO to GEO without any moving parts. Over the past year, Kymeta has seen tremendous momentum through global partnerships with key industry leaders and groundbreaking testing demonstrating interoperability with low Earth orbit (LEO) and geostationary (GEO) satellite constellations as well as delivering total solutions for the future that are available in the market today.
Kymeta was recently named number 5 on the 2022 World’s Most Innovative Companies list by Fast Company and won the BIG Innovation Award by Business Intelligence Group. In 2021, Kymeta was also named Top Ten Hottest Companies in Satellite by Via Satellite Magazine and Hottest New Mobility Solution by The Association of Telecom, Mobility and IT Management Professionals. Additionally, Kymeta received Australia’s Good Design Gold Award, Teleport Technology of the Year by the World Teleport Association and the Top Government Mobile Innovation by Mobile Satellite Users Association.
Kymeta will be at SATELLITE 2022 from March 21-23 in meeting room #156 where the company making mobile global will officially announce additional high-profile partnerships, host on-site meetings, and hold driving demonstrations.
Kymeta is the leader in unlocking the potential of broadband satellite connectivity, combined with cellular networks, to satisfy the overwhelming demand for communications-on-the-move and making mobile global. Kymeta satellite connectivity solutions offer unique, complete, and turnkey bundled solutions to the market based on best-in-class technologies and tailored customer-centric services that meet and exceed customer mission requirements. These solutions, in tandem with the company’s flat-panel satellite antenna, the first of its kind, and Kymeta services provide revolutionary mobile connectivity on satellite and hybrid satellite-cellular networks to customers around the world. Backed by U.S. and international patents and licenses, the Kymeta terminal addresses the need for low-power, low-cost, and high-throughput communication systems that have no moving parts. Kymeta makes connecting easy – for any vehicle, vessel, aircraft, or fixed platform.
Kymeta is a privately held company based in Redmond, Washington.
For more information, visit kymetacorp.com