Today I’m excited to share that one of our great ideas has reached an important milestone. Kymeta, our second spin-out company, just closed its first round of funding with investments from Bill Gates, Liberty Global and Lux Capital.
For the better part of a decade, we’ve collaborated with experts from around the world to explore the potential of a fascinating branch of science called metamaterials and how it can be used for commercial purposes. Kymeta is the result of our patience and persistence. Based on IV’s metamaterials satellite antenna technology (MSA-T), Kymeta’s mTenna products will simplify the satellite connections needed for broadband Internet on the go, anywhere in the world.
Why not just develop this product ourselves? IV creates new companies like Kymeta (or previously TerraPower) to focus on bringing particularly promising new inventions to market so that our inventors can continue doing what they do best – dreaming up the next big idea.
Last week I shared a bit about the diverse nature of IV’s business, and Kymeta is a perfect example. Whether it’s solving strategic issues for our high-tech customers or tackling health and humanitarian issues for the developing world, at the core we’re a company built on the value of great ideas.
You can read more about the Kymeta team and the work they’ll be doing here. I, for one, can’t wait to follow this idea on its journey.