Subscribe in a reader
Subscribe to Philadelphia Tech News by Email
Bala Cynwyd-based Osage University Partners and The Kresge Foundation participated in a $50 million Series C financing alongside prior investors including Bill Gates, Lux Capital and Liberty Global in Kymeta Corporation, a Redmond, Washington-based maker of satellite communication antennas and systems. The investment was announced earlier this month.
Kymeta's first product, a portable satellite terminal, is expected to be available in 2015. It can be used to replace a satellite truck for news gathering, or to provide high-speed data communications for industries such as mining and energy exploration. The company says it 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."
Kymeta was spun off from IP portfolio company Intellectual Ventures in August 2012.
Osage University Partners (OUP) is a $100 million venture capital fund that invests exclusively in startups that are commercializing university research. The fund is associated with VC firm Osage Partners.