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(Courtesy of Kymeta) Hanwha Systems Co., the defense and air mobility unit of South Korea’s Hanwha Group, made another investment of $11 million in Kymeta Corp., a US satellite communications firm, to improve competitiveness in the low-orbit satellite sector.Hanwha System said on Wednesday that it has participated in Kymeta’s equity funding to raise $84 million led by Bill Gates. In 2020, the South Korean company invested $30 million in the US firm.Kymeta, founded in 2012, is a technology venture company that commercializes and sells electronic satellite communication antennas. The Redmond, Washington-based connectivity company produces satellite antennas to be installed at vehicles, buses, trains and ships in remote areas or seas where conditions for communication are unstable.PRODUCT EXPANSIONThe company, which also provides communication services, holds the numerous US and international patents and technical assets related to satellite communication antennas.Kymeta plans to use the proceeds from the funding for the expansion of products for low-orbit satellites and defense sectors.“We are excited to continue in the development of both our second-generation u8 product family and third-generation technology that promises to provide even higher efficiencies and lower costs for our customers,” said Kymeta’s Executive Chairman and Co-CEO S. Douglas Hutcheson in a statement after the funding.Hanwha System is developing the satellite sector as its core business, utilizing radar, surveillance, reconnaissance, and communication technologies accumulated in the defense industry.In August last year, the company invested $300 million in UK’s satellite communications firm OneWeb in a move to expand its presence in the growing commercial space market.By Jung-hwan Hwangjung@hankyung.comJongwoo Cheon edited this article.
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