Microsoft co-founder Bill Gates is doing it again: He’s the lead investor in a new $84 million funding round for Redmond, Wash.-based Kymeta Corp., the mobile connectivity startup he helped foster a decade ago.
Kymeta says the fresh infusion of equity investment will be used to accelerate the production of its flat-panel antennas and set the stage for expanding its offerings for defense customers, as well as for users of satellite broadband services that are being offered from low Earth orbit.
The funding announced today follows up on an $85 million round that was also led by Gates in August 2020, as well as a $30 million investment that was made by South Korea’s Hanwha Systems just a few months afterward. Kymeta says Hanwha is also participating in the new round. All of the equity investments announced to date add up to nearly $400 million — with Gates playing a principal role ever since the company was spun out from Intellectual Ventures in 2012.