Bill Gates Invests $78 Million In Satellite Antenna Firm Kymeta. According to Wikipedia William Henry Gates III is an American business magnate, software developer, investor, and philanthropist. Was born on 28 October 1995 in Seattle, Washington. He is the co-founder of Microsoft Corporation with Paul Allen who is his childhood friend.
He has been enlisted in the Forbes list of the world’s richest people, since 1987. He held the Forbes title of the richest person in the world from 1995 to 2017. During his career at Microsoft, he held the positions of chairman, chief executive officer, president, and chief software architect. He was also the largest individual shareholder until May 2014.
Gates is one of the best-known entrepreneurs and pioneers of the microcomputer revolution of the 1970s and 1980s. From the business news according to Reuters, Bill Gates invests $78m in satellite antenna firm Kymeta. The company’s President and Berger said in an interview that Washington based kymeta, Redmond, which sells pizza box-sized antennas for installation on trains, boats, and cars, secured $85.2 million in the capital. So, it plans to launch a monthly subscription service for satellite-based internet to government customers later in the year. To read the full detail, check out the section beneath.
Bill Gates Invests $78 Million In Satellite Antenna Firm Kymeta
According to Rueters, The company’s president told Reuters that Billionaire Bill Gates is leading satellite antenna firm Kymeta’s latest funding round with a $78m investment.
Kymeta President and COO Walter Berger said in an interview, Washington based kymeta, Redmond, who sells pizza box-sized antennas for installation on cars, boats, and trains, secured $85.2 m in the capital. However, it plans to launch a monthly subscription service for satellite-based internet to government customers later in the year.
He added that “ Thesis here is to advance connectivity on a global basis. Cellular doesn’t do that.” However, Gates firm, which has invested in at least one other funding round, did not immediately return a request for comment. Kymeta antennas are majorly linked with satellites in high orbital altitudes and can link to remote places including moving vehicles and planes.
Companies like Elon Musk’s SpaceX and Jeff Bezos’ Amazon, are building networks of satellites in low-Earth orbit, high risk and expensive endeavor that has sent satellite operator OneWeb into bankruptcy.
Furthermore, Kymeta’s funding round comes on the heels of getting satellite service provider Lepton Global Solutions LLC, cementing a major government customer base, and obtaining access to 17 communication satellites in orbit.
Berger said that the company plans to launch a satellite antenna bundle by the end of the year for $1,000 per month. He added that the company has been in discussions with various companies building low-Earth orbit satellite constellations.