Bill Gates invests $78mn in communications firm Kymeta in latest round of funding

Bill Gates, principal founder of Microsoft Corporation, is reportedly leing latest funding round for global communications company Kymeta Corporation with a $78 million investment. Kymeta Corporation has been aiming at aggressive commercialisation of satellite and cellular communications globally for next generation electronically steered flat panel antenna.

communications company anunced recapitalisation of firm along with successful funding raise of approximately $85 million, led by Bill Gates. It said that members of leership team personally invested approximately $1 million, led by Executive Chairman Doug Hutcheson. According to media reports, firm reportedly plans to launch a satellite antenna bundle by end of 2020 for $1,000 per month.

Hutcheson said in a statement that company is just scratching surface of how powerful hybrid satellite-cellular communications can be when combined with an affordable electronically steered flat panel antenna offered to global land mobility ecosystem. Calling Gates a “highly successful techlogy backer”, Kymeta Corp chairman said that his continued support will help m execute ir vision even more rapidly and broly.

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Funding vaccine research

Gates has funded several projects of national and international impact and has been at forefront of COVID-19 vaccine research and development. In May, Gates Foundation provided $3.6 million to SK Bioscience to accelerate development of coronavirus vaccines. Apart from developing its own vaccine, pharma company has also taken contract from AstraZeneca Plc to manufacture its vaccine AZD1222, which is currently undergoing a large-scale Phase III human trial.

Bill and Melinda Gates Foundation has donated millions of dollars for coronavirus vaccine and treatment research programmes. In February, foundation pledged to donate $100 million to coronavirus vaccine research and treatment efforts and months later, it pledged ditional $1.6 billion to Gavi vaccine alliance, a public-private global health partnership with goal of increasing access to immunisation in poor countries.

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(Im: AP)