Billionaire Bill Gates is leading satellite antenna firm Kymeta’s latest funding round with a $78 million investment, the company’s president told Reuters.
Redmond, Washington-based Kymeta, which sells pizza box-sized antennas for installation on cars, trains and boats, secured $85.2 million in capital. It plans to launch a monthly subscription service for satellite-based internet to government customers later this year, Kymeta President and COO Walter Berger said in an interview.Gates’s firm, which has invested in at least one other funding round, did not immediately return a request for comment.
A range of companies, like Elon Musk’s SpaceX and Jeff Bezos’ Amazon, are building networks of satellites in low-Earth orbit, an expensive and high-risk endeavor that has sent satellite operator OneWeb into bankruptcy.
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