Kymeta will drive the technical growth of the LEO antenna with Hanwha Methods Funding
Kymeta has announced a US $ 30 million investment from Hanwha Systems to help the former expand its global market presence and advance its next-generation low-earth orbit antenna technology and other features.
“Support from HSC will help us expand our reach and advance the development and production of our metamaterial-based antenna technology,” said Doug Hutcheson, Executive Chairman of Kymeta, in a statement released Monday.
HSC will receive a seat on Kymeta’s board of directors as part of the investment.
“The goal of our investment in Kymeta is to get an early entry into the LEO satellite antenna market and diversify our technology portfolio,” said Youn Chul Kim, CEO of Hanwha Systems.
The investment came one month after Kymeta launched the Kymeta u8 antenna and Kymeta Connect satellite cellular service.
PJT Partners acted as financial advisor and placement agent to Kymeta on the transaction.