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Kymeta announces $20 million in additional funding

Kymeta Corporation, which develops flat-panel antenna technologies based on metamaterials, has reported that it is closing a $20 million financing that includes existing investors Bill Gates and Lux Capital.

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Last year Kymeta successfully demonstrated bi-directional high-speed internet connectivity with a Ka-band satellite, and the company is set to supply its flat-panel antenna to Inmarsat for aeronautical access to the Global Xpress network.

Kymeta has also previously confirmed to Digital Ship that it intends to make the technology available to the maritime industry, initially in Ka-band, then possibly in Ku and L-band.

“This is a very exciting time for our company,” said Nathan Kundtz, president, CTO and co-founder of Kymetea.

“World-class customer partnerships have guided our technology’s development since our founding. Those partnerships, along with the financial support of our investors, have positioned us well to execute on the promise of our technology.”

Mr Kuntz will also be acting as interim CEO for the company when current chief executive Vern Fotheringham steps down at the end of the year.

“We are extremely grateful to Vern for his contributions to Kymeta and for building a foundation for growth and success,” said Bill Gates, investor and board member.

“The board and I are incredibly optimistic and confident with Kymeta’s team, breakthrough technology and its market opportunities ahead.”

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