OneWeb raises $500 million to fully fund constellation
Posted: Wed, Jun 30, 2021, 6:45 PM ET (2245 GMT)
OneWeb has secured the funding it needs to complete its initial constellation after Bharti Global invested an additional $500 million. The new investment, a call option it exercised Tuesday, gives the Indian telecom company 38.6% of OneWeb, while the U.K. government, Eutelsat and Softbank will each own 19.3%. Bharti's investment means OneWeb has secured the $2.4 billion it needs for deploying 648 satellites by 2022, providing connectivity to enterprise, government, maritime and aviation customers. Arianespace is due to launch another batch of 36 satellites for OneWeb Thursday morning.
OneWeb has secured the funding it needs to complete its initial constellation after Bharti Global invested an additional $500 million. The new investment, a call option it exercised Tuesday, gives the Indian telecom company 38.6% of OneWeb, while the U.K. government, Eutelsat and Softbank will each own 19.3%. Bharti's investment means OneWeb has secured the $2.4 billion it needs for deploying 648 satellites by 2022, providing connectivity to enterprise, government, maritime and aviation customers. Arianespace is due to launch another batch of 36 satellites for OneWeb Thursday morning.
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