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April 12th, 2017

A Tad Over $73 Million Enriches KYMETA's Coffers in their Latest Investment Round...

Kymeta has raised its largest investment round to fuel development of the company’s satellite antenna technology.

The Redmond, Washington-based company recently reeled in a $73.5 million round, according to a new filing with the Securities and Exchange Commission. A Kymeta spokesperson confirmed the amount listed on the filing but did not provide further details. Some of the funding came from Intelsat, a publicly traded satellite operator based in Luxembourg.

We are only a modest portion of the equity raise,” Dianne VanBeber, Intelsat’s vice president of investor relations and communications, told GeekWire in an email. “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.”

Kymeta, which spun out from Bellevue, Washington-based Intellectual Ventures in 2012, announced a partnership with Intelsat last month for a new satellite broadband data service called KÄ€LO. At the time, the companies also announced that Intelsat acquired an equity stake in Kymeta, but did not provide specific numbers.

The announcement noted that Intelsat CEO Stephen Spengler joined Kymeta’s board; he’s listed on the new SEC filing as a director.

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