Your Web News in One Place

Help Webnuz

Referal links:

Sign up for GreenGeeks web hosting
July 9, 2013 09:25 pm -04

Satellite startup Kymeta announces $50 million in funding from Bill Gates and other backers

DNP  Satellite startup Kymeta announces $50 million in funding from Bill Gates, other backers

It's been nearly a year since Intellectual Ventures announced its satellite communications spinoff Kymeta, but a recent round of funding from heavyweight backers is about to give the company some serious momentum. In a press release today, Kymeta announced $50 million in Series C financing from Bill Gates, Liberty Global and Lux Capital, among other high-profile investors. The company, which is developing a portable satellite broadband receiver under the mTenna brand, currently counts Gates among its board members. Though its products have yet to hit the market, Kymeta's A-list backing has generated significant interest in its tech, which utilizes metamaterials to deliver stronger broadband signals in a more affordable, energy-efficient efficient package. The company is already in talks with several service providers, and this latest influx of cash should only help expedite development agreements and a commercial launch.

Filed under:

Comments

Via: GeekWire

Source: Kymeta


Original Link: http://www.engadget.com/2013/07/09/satellite-startup-kymeta-50-million-funding-bill-gates/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadg

Share this article:    Share on Facebook
View Full Article

Engadget

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics. Engadget was launched in March of 2004 in partnership with the Weblogs, Inc. Network (WI

More About this Source Visit Engadget