US-based metamaterials specialist Kymeta has raised US$62m from existing investors and new undisclosed strategic partners to help commercially launch its satcoms antenna next year. The group has raised US$124m in total since being established in 2012.
US-based metamaterials specialist Kymeta has raised US$62m from existing investors and new undisclosed strategic partners to help commercially launch its satcoms antenna next year.
The existing investors joining its series D round were Lux Capital, Kresge Foundation, Osage University Partners and board member Bill Gates.
The startup, which has raised US$124m since being established in 2012, hailed a key milestone for its technology late last year with its satellite operator partner Intelsat.
The two companies said they had completed initial mobility performance tests for Kymeta’s lightweight antennas with Intelsat’s satellite fleet. They claim to be the first companies to meet this milestone with a flat panel, software-based antenna for maritime and automotive applications.
Josh Wolfe, an investor at VC firm Lux Capital that has also invested in space startups Planet Labs and Orbital Insight, said: “We continue to be impressed with Kymeta’s achievements, growth and momentum.
“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.”
Last week, Kymeta announced that California-based Panasonic Avionics Corporation had ordered a “significant number” of its antennas to make and distribute maritime terminals for vessels around the world.
Panasonic, which also provides inflight connectivity solutions, plans to combine Kymeta’s technology with its high-throughput satellite network to provide cheap, high-speed services to both passengers and crew.
Another Kymeta partner is Japanese carmaker Toyota, which today unveiled a research vehicle fitted with its technology at the North American International Auto Show. The two have been researching ways to provide satcoms to vehicles since September 2013.
Other recently announced partnerships include one unveiled in August with Japanese electronics giant Sharp, which is providing its liquid crystal display production technology for the antennas.
Kymeta promoted its CTO and co-founder Nathan Kundtz to CEO in April 2015, after Vern Fotheringham left at the end of 2014 to enable the group to gear up for its next phase of growth. At the time, Kymeta said it was looking to raise US$20m after securing US$50m in 2013. It raised US$12m in 2012 when it was spun out of intellectual property and patent specialist Intellectual Ventures (IV).
Click here to read SatelliteFinance’s Q&A with Kundtz in May 2015.
