REDMOND, Wash., Jan. 11, 2016 /PRNewswire/ -- Kymeta Corporation announced it has closed a $62 million Series D financing. The funds will support the company's ongoing efforts to build innovative, smart antennas that will bring high-speed and high-bandwidth satellite connectivity to anything that moves.
The financing round included existing Kymeta investors Bill Gates, Lux Capital, Kresge Foundation and Osage University Partners, as well as new as of yet undisclosed strategic partners.
Over the course of the last year, Kymeta made significant progress toward its goal of connecting anything that moves. This progress included new partnerships in critical industries, successful testing of its smart antenna with satellite constellations and the first completed glass-on-glass, thin-film-transistor-based antennas.
"We continue to be impressed with Kymeta's achievements, growth and momentum," said Josh Wolfe, board member and investor at Lux Capital. "With new partnerships, roll-out of its smart antenna, technology and customer milestones ahead and growing industry buzz, Kymeta is inventing and delivering a future I can't wait to live in."
"The tremendous support from our existing investors as well as new strategic investors, partners, and customers is expanding our accessible market and growing our business across land, sea and air," said Dr. Nathan Kundtz, chief executive officer of Kymeta.
Since its last round of funding in 2014, Kymeta has numerous announcements fueling company growth:
- Intelsat and Kymeta joined forces to Enable Next Generation Satellite Applications
- Kymeta and Sharp partnered together to use Sharp's liquid crystal display production technology to manufacture Kymeta's new flat-panel satellite antenna
- Kymeta and Intelsat showcased that Kymeta's antenna had successful connected to Intelsat's satellite constellations for more than 8,000 miles of road testing
- Panasonic Avionics and Kymeta announced an agreement that will have Panasonic ordering a significant volume of Kymeta's flat panel antennas and them to manufacture and distribute maritime terminals for vessels around the world
About Kymeta Corporation
Kymeta Corp. is commercializing a new, innovative software-enabled metamaterials-based electronic beamforming antenna for satellite communications. Kymeta has been named by CNBC to its annual list of the world's 50 most disruptive companies for two consecutive years. Kymeta was selected by Future in Review as a 2014 FiRe Starter company. Boats. Planes. Cars. If it moves, Kymeta is the antenna solution that will keep it connected. Anywhere. The company is based in Redmond, Washington and operates on a worldwide basis. For more information, please visit www.kymetacorp.com.
SOURCE Kymeta Corporation