REDMOND, Wash. (Kymeta PR) — Kymeta — the communications company making mobile global — announced today that Hanwha Systems (HSC) , a leading global solutions company that provides differentiated smart technologies in defense electronics and information infrastructure, has signed an agreement to invest $30 million to back the development of Kymeta’s next generation solutions, the Kymeta u8™ and Kymeta Connect™.
The investment will further Kymeta’s global market reach, accelerate production of Kymeta products and solutions, and improve the overall growth trajectory of the company. The funding is anticipated to support increased unit production, an enhanced customer experience, and the ongoing development of Kymeta’s next generation capabilities. HSC aims to support Kymeta’s metamaterial-based antenna technology and gain a foothold in the rapidly growing Low Earth Orbit (LEO) antenna market. With the capital investment and upon regulatory approvals, HSC will also receive a seat on the Kymeta Board of Directors.(more…)