Jane Edwards
Kymeta has announced a $30M investment from Hanwha Systems to help the former increase its global market presence and further develop its low-Earth orbit antenna technology and other next-generation capabilities.
“Support from HSC will help us expand our reach and drive the development and productization of our meta-material based antenna technology,†Doug Hutcheson, executive chairman of Kymeta, said in a statement published Monday.
HSC will gain a seat on Kymeta’s board as part of the investment.
“The objective of our investment in Kymeta is to enter the LEO satellite antenna market early on, and diversify our technology portfolio,†said Youn Chul Kim, CEO of Hanwha Systems.Â
The investment came a month after Kymeta launched the Kymeta u8 antenna and Kymeta Connect satellite-cellular connectivity service.
PJT Partners acted as Kymeta’s financial adviser and placement agent in the transaction.
