Kymeta, a start-up company specialising in metamaterials for satellite broadband on the move, has raised US$12m in its inaugural funding round
Bill Gates, Liberty Global and Lux Capital all participated in the financing, which will enable Kymeta to…
Kymeta, a start-up company specialising in metamaterials for satellite broadband on the move, has raised US$12m in its inaugural funding round
Bill Gates, Liberty Global and Lux Capital all participated in the financing, which will enable Kymeta to commercialise its metamaterials-based satellite antenna technology. The company is currently at a development stage and expects to roll out a commercial product by 2015.
Kymeta has been spun-out from Intellectual Ventures, an invention focussed venture capital firm that has developed the metamaterials antenna technology.
Metamaterials are artificial materials that can manipulate electromagnetic radiation. Kymeta’s mTenna product line uses this capability to electronically point and steer a radio signal toward a satellite. The company claims this provides a continuous broadband link between a satellite and a moving platform such as an aircraft, car or boat. Kymeta adds that the metamaterials enable its product to be thinner, lighter, more efficient and less expensive than traditional antenna technology.
In addition to mobile applications, Kymeta also plans to develop a portable laptop-sized satellite hotspot antenna for individual users, such as news reporters and emergency responders.
Casey Tegreene, executive vice president and chief patent counsel at Intellectual Ventures commented: “Metamaterials were an early focus for Intellectual Ventures, so the spinout of Kymeta marks an important milestone in our invention work.”
Josh Wolfe, co-founder and managing partner of VC Lux Capital added, “Kymeta’s ‘broadband-anywhere’ product focus will transform a market that’s already poised for incredible growth.”
The market for satellite to IP solutions, where satellite delivered signals are distributed over an IP network to IP-enabled devices such as tablets and smartphones, has grown quickly over the past year. For example, a Sat-IP protocol was recently jointly developed by satellite operator SES, UK-based DTH broadcaster BSkyB and Danish TV software company Craftwork.
Kymeta is the second company to spin out of IV since the invention capital company was founded in 2000. The first, TerraPower, was created in 2008 to develop a new class of nuclear reactor.
In addition to selling and licensing its extensive portfolio of IP assets, Intellectual Ventures creates new companies that bring to market new products based on particularly promising inventions.
