Press "Enter" to skip to content

OneWeb Successful To Raise $1.25 Billion From Regular Investors

Almost a period of less than a month following the launch of its foremost six satellites, OneWeb closed a novel $1.25 Billion financing round additionally to its Internet constellation. SoftBank, the Japanese tech giant, is OneWeb’s biggest investor. It led the round, as did other regular investors such as Qualcomm Technologies, Grupo Salinas, and the Government of Rwanda.

The latest financing is supposed to bring OneWeb’s overall funding to approximately $3.4 Billion. It follows a $500 Million round in 2015, a $1.2 Billion round in 2016, and unrevealed fundraising of almost $450 Million last year. In a statement together with the March 18, 2019 announcement, Adrian Steckel, CEO, OneWeb, proclaimed that the latest money “makes OneWeb’s service foreseeable.” He added that the profoundly capitalized startup is getting ready for the large-scale production and the launch of the first-generation constellation of about 648 satellites.

On a similar note, OneWeb came into the news as it disclosed the successful launch of its initial six broadband satellites on board a Soyuz launch vehicle. It was carried out at the Guiana Space Center, Kourou, French Guiana on February 27, 2019. The six OneWeb satellites divided from the rocket in two groups. The signal acquisition has been verified for all six satellites. OneWeb’s satellites are prepared by OneWeb Satellites, a partnership between Airbus Defense & Space and OneWeb.

As per the release, this lift-off marks both the starting of the biggest satellite launch campaign in history and the evolution from the booming proof-of-concept to OneWeb’s commercialization. Launching over 30 satellites per rocket, OneWeb’s monthly launch plan is supposed to grow its constellation to over 650 satellites and permit customer demos in 2020. It is as well supposed to offer complete global commercial coverage by 2021. The OneWeb network aims to offer a blend of low latency, high data throughput, worldwide coverage to the poles, and various user terminals for multiple markets.

Gilbert Heist
Gilbert Heist Author
EDITOR IN CHIEF At ZMR Industry Analysis

Gilbert holds the Master’s Degree in Business Administrations. A robust understanding of the business world is the key element that made him a successful business person. He is actively involved in the business sector from over 12 years. Gilbert serves as a rich source of knowledge and energy to all other team members. He has developed a unique communication technique, which has helped him conduct many carrier guidance and entrepreneurship guidance programs globally.