American billionaire Bill Gates has invested $78 million in satellite antenna company Kymeta. The founder of Microsoft Corp. (MSFT) pumped in his investment during a financing round held by the company from which it fetched $85.2 million.
Kymeta engages in selling antennas for installation on boats, trains and cars. The company’s president Walter Berger, says they are looking forward to launch a monthly subscription program for satellite based internet to government clients before the year wraps up.
“The thesis here is to advance connectivity on a global basis. Cellular doesn’t do that,” said Berger.
Citing Berger, the company links satellites in high orbital altitudes additionally they can also link to remote places as well as moving boats, planes or cars.
Other companies are also engaging in this expensive venture include Elon Musk owned SpaceX and Amazon. Both are building networks of satellites in low-Earth orbit.
“Kymeta has been in discussions with various companies building low-Earth orbit satellite constellations,” said Berger.