September 18, 2018
Millions more raised by Pivotal Commware in investment for beamforming antennas
“Pivotal Commware, a venture that’s backed by Microsoft co-founder Bill Gates, is in the midst of a fresh funding round that could bring in $20 million or more for its effort to develop flat-panel antennas that boost wireless communications.
In documents filed today with the Securities and Exchange Commission, the Bellevue-based startup said that four investors have put $14.75 million into a Series B equity funding round so far.”
Offering amounts up to $20 million, with $5.25 million yet to be sold. Pivotal Commware’s vice president of marketing and sales, Kent Lundgren however told GeekWire via email that the final amount of the round is yet to be determined.
Participants in the round could include “some new strategic investors,” Lundgren said but did not go further into detail.
Pivotal Commware raised $17 million just last year in a Series A round that included Bill Gates as well as DIG Investment, Lux Capital, the family office of private equity investor Barry Sternlicht and The Thermo Companies, which is the corporate parent for the Globalstar satellite venture.
Pivotal CEO Brian Deutsch when that round was announced said the company intended to ramp up its workforce from 20 to 40 employees.
Pivotal, one of four metamaterials-based ventures spun out from Intellectual Ventures, a technology incubator that’s also based in Bellevue. Others are Kymeta, thatfocuses on flat-panel satellite antennas. Echodyne is a start-up that builds radar systems suited for drones and connected cars. Evolv, is nnother that works on security scanning applications. Bill Gates has invested in all four ventures.
[Originally posted by GeekWire — September 17, 2018]