OneWeb backing soars with $550M boost from Eutelsat - Mobile World Live 28 APR 2021
Satellite communications company OneWeb secured another financial injection for its global connectivity ambitions, as operator Eutelsat joined a line of investors with a contribution of $550 million.
Eutelsat will get an approximately 24 per cent equity stake and board representation, with similar governance rights to earlier backers of OneWeb, including the UK Government and a division of Indian conglomerate Bharti Enterprises.
Following the deal, which is expected to close in H2 subject to regulatory approvals, OneWeb will command $1.9 billion funding for its vision to close the digital gap by bringing connectivity worldwide through Low Earth Orbit (LEO) satellites.
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Further batch of OneWeb satellites nears constellation to service
OneWeb has added 36 further satellites to its constellation, the partly-UK government owned company has confirmed.
This brings its total in-orbit constellation to 182 satellites, part of its intended 648 Low-Earth Orbit fleet for providing broadband connectivity services.
The satellites were dispensed in nine batches, over a period of 3 hours 52 minutes, with signal acquisition on all 36 satellites confirmed.
OneWeb maintains it is on schedule to cover 50 degrees latitude and above, by June, with service ready to start by the end of the year.
“These are exciting times at OneWeb as we get ever closer to bringing our connectivity services to some of the world’s hardest to reach places,” said OneWeb CEO, Neil Masterson. “With this third successful launch in our ‘Five to 50’ programme, we are rapidly building momentum: we are launching more satellites, demonstrating the network, and announcing more distrib
Bharti backed-OneWeb to raise $550 mn from France s Eutelsat
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