After a troubled year that saw broadband satellite operator OneWeb file for bankruptcy, get rescue finance from the UK government and Bharti, and then emerge out of that with a launch of part of its fleet last month, the London-based company today announced that it's closed $1.4 billion in funding money that it says will be enough to (finally) get the rest of its first-generation fleet of 648 satellites off the ground. The 36 new satellites OneWeb launched in December brought the total number in orbit to 110 satellites. The company is continuing to whittle down its ambitions.
After a year in which it had to declare Chapter 11 bankruptcy, 2021 is off to a much better start for satellite internet startup OneWeb. Two weeks into the new year, the company has secured a $400 million investment from SoftBank and Hughes Network Systems, bringing its total funding to date to $1.4 billion. With that new infusion of cash, OnWeb says it has everything it needs to launch its entire first-generation of 648 constellation satellites.
After a troubled year that saw broadband satellite operator OneWeb file for bankruptcy, get rescue finance from the UK government and Bharti, and then emerge out of that with a launch of part of its fleet last month, the London-based company today announced that it’s closed $1.4 billion in funding — money that it says […]
Jan 15, 2021
Another lifeline of funding and support has been thrown to UK part-owned LEO project, OneWeb
If it can execute its current slimmed down plan efficiently it may just about be able to hold on, despite further challenges from rival LEO consortia
Elon Musk is already piloting his Starlink service while the EU is girding its loins for an ‘aggressive’ push into space
OneWeb, the Low Earth Orbit (LEO) satellite system that refuses to die now looks destined to reach some sort of fruition as another pair of well-financed wannabe space players steps up to throw more money into the pot.