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July 9, 2013

Kymeta closes on $50M financing round

Jul 9, 2013, 5:24am PDT Kymeta Corp., the Redmond satellite technology company that was spun off from Intellectual Ventures last year, […]

Jul 9, 2013, 5:24am PDT

Kymeta Corp., the Redmond satellite technology company that was spun off from Intellectual Ventures last year, said it’s completed a $50 million Series C financing round.

Kymeta said existing investors Bill Gates, Lux Capital and Liberty Global were joined in the financing by Osage University Partners and The Kresge Foundation.

“It is a clear testament to the progress we’ve made to date proving our unique technology is poised to make significant contributions to the advancement of global broadband connectivity enabling high-speed communication services to businesses, consumers, governments and NGOs regardless of their location worldwide,” said Kymeta CEO Vern Fotheringham, in a statement.

Kymeta also said it’s promoted Bob McCambridge to president and chief operating officer. Co-founder Dr. Nathan Kundtz was promoted to executive vice president and chief technology officer, and John Schilling to executive vice president and chief financial officer.

Read more at Puget Sound Business Journal

About Kymeta

The world’s demand for ubiquitous mobile connectivity is irrefutable. A global, mobile network is the answer to connecting people and places that have never been connected before.

Kymeta is making seamless, always-connected mobile communications possible with a unique hybrid approach that enables satellite and cellular networks to deliver a single, global, mobile network. End-to-end mobile communications are delivered with Kymeta K?LO™ connectivity services, and the world’s first and only electronically-steered, flat-panel satellite terminal that goes places traditional satellite dishes cannot. Backed by U.S. and international patents and licenses, the Kymeta KyWay™ terminal makes high-throughput, mobile communications possible in cars, trains, buses, trucks, boats, and much more.

If it moves, Kymeta keeps it connected.

For more information, visit kymetacorp.com and KALO.net.

Business Inquiries for Kymeta
Sam Christensen Marketing Kymeta
+1 425.658.8703
Media Inquiries for Kymeta
Melanie McBride Vice President, Content and PR The Summit Group
+1 801.990.8464