The financing will be used to accelerate new product development and commercialisation for satellite and cellular communications globally.
Mobile communications provider Kymeta Corporation has raised approximately $85m in a funding round led by Bill Gates. Members of the leadership team personally invested approximately $1m led by Executive Chairman, Doug Hutcheson.
The financing will be used to accelerate new product development and commercialisation for satellite and cellular communications globally.
The financing builds on an 18-month period for Kymeta, which saw a rapidly growing influx of new customers, the appointment of key executives, new product releases and market momentum in the areas of defence, public safety and land mobility. Kymetas channel network grew to include over 100 reseller partners and several defence and commercial customers around the globe.
Kymeta also announced the Kymeta u8 terminal beta trial programme with select partners and customers globally, such as DOD/MOD contractors and end-users, satellite service providers, and commercial resellers. The company is planning a market launch of the Kymeta u8 for Q4 2020.
The new u8 terminal paired with Kymetas hybrid satellite-cellular connectivity services, Kymeta Connect, aims to transform the purchase and consumption of mobile data with all-inclusive hardware, connectivity and services monthly subscription.
The Kymeta u8 is a flat panel electronically steered antenna built specifically for mobility and designed for the needs of military, first responders and commercial customers.
Key features and benefits of the Kymeta u8 terminal and Kymeta Connect platform also include 2 GHz support across the full Ku-Band, improved performance and efficiency which translates into the lower total cost of ownership, integrated hybrid satellite-cellular hardware for always-on connectivity and turnkey Kymeta Connect options that include hardware, connectivity and service with affordable purchasing options.
“As a company, were 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,” said Doug Hutcheson, Executive Chairman, Kymeta. “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.”
