in , ,

Satellite Antenna Company Kymeta Raises $85M in Funding Round

Kymeta
Kymeta

Kymeta has raised approximately $85M in a financing round led by Bill Gates and will use the funds to accelerate product development and marketing efforts for its u8 terminal and Kymeta Connect services.

“As a company, we“™re just scratching the surface of how powerful hybrid satellite-cellular communications can be when combined with an affordable electronically steered flat panel antenna offered to the global land mobility ecosystem,“ Doug Hutcheson, executive chairman of Kymeta, said in a statement published Tuesday.

“Having the continued support of Bill Gates will help us execute our vision even more rapidly and broadly ““ and with the benefit of experience, perspective and relationships of a leading and highly successful technology backer,“ Hutcheson added.

The company“™s u8 terminal is a flat panel antenna designed to meet the mobile connectivity needs of military personnel, first responders and commercial clients, while Kymeta Connect provides satellite and cellular connectivity services through monthly subscription plans.

Kymeta announced the new funding round a week after it acquired satellite-based communications services provider Lepton Global Solutions.

ExecutiveBiz Logo

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings about M&A Activity

Crowley

Crowley Offers Expanded Gov’t Logistics Service for Microelectronics

Starliner

NASA, Boeing Eye Redo of Starliner Uncrewed Mission to ISS by December