Kymeta has closed an 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 the company’s 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 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 LEO and GEO satellite constellations as well as delivering total solutions for the future that are available in the market today.
“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.”
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.
