Kymeta Closes $50 Million Series C Financing To Transform Satellite Communications

  Kymeta Closes $50 Million Series C Financing To Transform Satellite
  Communications

Business Wire

REDMOND, Wash. -- July 9, 2013

Kymeta Corporation announced today that it has successfully closed a $50
million Series C financing to accelerate the company’s growth plans. Kymeta, a
privately held technology company, designs and manufactures satellite
communication antennas and systems. Existing Kymeta investors including Bill
Gates, Lux Capital and Liberty Global were joined in the financing by Osage
University Partners and The Kresge Foundation.

The company is pioneering the use of patented metamaterials technology that
dynamically steers antenna beams with no moving parts, resulting in flat,
thin, light, and highly adaptable antennas and communication terminals.This
unique capability opens numerous new opportunities in the satellite industry
to provide new broadband mobile services and highly-flexible portable and
fixed services to a wide range of applications. Both CNBC and MIT Technology
Review recently recognized Kymeta as one of the “Top 50 Most Disruptive
Technology Companies in the World.”

“We are fortunate to have earned this level of sponsorship,” said Kymeta Chief
Executive Officer Vern Fotheringham. “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.”

“Lux Capital is extraordinarily excited about the market potential for
Kymeta’s technology,” said Josh Wolfe, managing partner at Lux Capital and a
Kymeta board member.“In just the past few months, Kymeta has entered into
commercial development agreements with several of the satellite industry’s
leading service providers and we’re really only getting started.”

In addition, Fotheringham announced several key promotions on Kymeta’s senior
leadership team, including the promotion of 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.

“Our leadership team has executed flawlessly since inception, and exceeded
every metric that we established to measure our progress,” said Fotheringham.
“I have tremendous confidence in their capabilities. Their combined
contributions have underscored our rapid progress that inspired the confidence
our existing and new investors have demonstrated with this significant
financing.Kymeta is now positioned to move from our period of technology
refinement into the product development stage leading to the commercial launch
of our game changing solutions.”

“Kymeta is leadingthe commercialization of metamaterials-based innovation in
satellite communications,” stated Casey Tegreene, executive vice president at
Intellectual Ventures and a Kymeta board member. “We are thrilled to see the
rapid progress since the spinout from Intellectual Ventures in August 2012.”

About Kymeta Corporation

Kymeta Corporation is commercializing a new, innovative metamaterials-based
antenna for satellite communications. The Company is based in Redmond,
Washington and operates on a worldwide basis. For more information, please
visit www.kymetacorp.com.

Contact:

Media contact for Kymeta Corporation:
Senior Director of Marketing
Håkan Olsson, +1-425-896-3711
PR@kymetacorp.com
or
Investor contact for Kymeta Corporation:
Executive Vice President and CFO
John Schilling, +1-425-896-3715
johns@kymetacorp.com
 
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