Kymeta Corporation, a US-based satellite systems developer, has raised $50m in series C funding from multiple backers, including university venture fund Osage University Partners and communications firm Liberty Global.

Osage and philanthropic organisation The Kresage Foundation were joined by existing backers, including Microsoft founder Bill Gates, Liberty and venture firm Lux Capital, in the round.

Kymeta is developing metamaterial technology that allows satellites to steer antenna beams with no moving parts, leading to highly adaptable and lightweight communications terminals which would allow satellites to provide new broadband mobile services. In light of this, news provider MIT Technology Review recently dubbed Kymeta as one of the Top 50 most disruptive tech firms in the world.

Spun-out from intellectual property management firm Intellectual Ventures, one of the top 5 patent holders in the US, in 2011, Kymeta has gone on to raise $62m in total venture funding. On top of the latest round, Kymeta raised $12m shortly after its formation in 2012 in a venture round led by Bill Gates and joined by Liberty and Lux.

The firm hopes to be able to roll out its technology by 2014, which, amongst other applications, will be able to offer high-speed internet during flights.

Vern Fotheringham, chief executive at Kymeta, said: “We are fortunate to have earned this level of sponsorship. It is a clear testament to the progress we’ve made to date proving our unique technology is poised to make significant contributions to the advancement of global broadband connectivity enabling high-speed communication services to businesses, consumers, governments and NGOs regardless of their location worldwide.”

Satellite systems developer Kymeta Corporation has raised $50m in series C funding from multiple backers, including university venture fund Osage University Partners.

Osage and philanthropic organisation The Kresage Foundation were joined by existing backers including Microsoft founder Bill Gates, communications firm Liberty Global and venture firm Lux Capital in the round.

Kymeta is developing metamaterial technology that allows satellites to steer antenna beams with no moving parts, leading to highly adaptable and lightweight communications terminals which would allow satellites to provide new broadband mobile services. In light of this, news provider MIT Technology Review recently dubbed Kymeta as one of the Top 50 most disruptive tech firms in the world.

Spun-out from intellectual property management firm Intellectual Ventures, one of the top 5 patent holders in the US, in 2011, Kymeta has gone on to raise $62m in total venture funding. On top of the latest round, Kymeta raised $12m shortly after its formation in 2012 in a venture round led by Bill Gates and joined by Liberty and Lux.

The firm hopes to be able to roll out its technology by 2014, which, amongst other applications, will be able to offer high-speed internet during flights.

Vern Fotheringham, chief executive at Kymeta, said: “We are fortunate to have earned this level of sponsorship. It is a clear testament to the progress we’ve made to date proving our unique technology is poised to make significant contributions to the advancement of global broadband connectivity enabling high-speed communication services to businesses, consumers, governments and NGOs regardless of their location worldwide.”

Osage’s backers include Caltech, Drexel, Duke, Emory, Georgia Tech, Penn State, Princeton, Michigan, and the University of California system, to name but a few.