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 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.

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Via: GeekWire

Source: Kymeta

Intellectual Ventures launches Kymeta spinoff, promises slim satellite broadband hotspots

Intellectual Ventures launches Kymeta spinoff, promises satellite broadband hotspots

Intellectual Ventures is best known for its tendency to sue everyone, but it's going some distance to mend that bruised image through a newly spun out company, Kymeta. The startup hopes to improve the quality of satellite broadband through mTenna-branded, Ka-band hotspots made from metamaterials -- substances that can boost and manipulate a satellite signal while occupying virtually no space, leading to self-pointing transceivers that are just a fraction of the size of what we use today. That still amounts to equipment the size of a laptop running at a peak 5Mbps, although it's small enough that Kymeta sees hotspots reaching individual customers who want access from a boat, a car or the field. We'd just advise against tossing out the MiFi too quickly. Kymeta doesn't expect the hotspot to be ready before late 2014 at the earliest, and that leaves many questions about how much of a hit we'll take to the pocketbook.

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Intellectual Ventures launches Kymeta spinoff, promises slim satellite broadband hotspots originally appeared on Engadget on Tue, 21 Aug 2012 17:29:00 EDT. Please see our terms for use of feeds.

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