OneWeb secures funding from SoftBank and Hughes

OneWeb, the Low Earth Orbit (LEO) satellite communications company owned by the UK Government and Bharti Global, has secured additional funding from SoftBank Group and Hughes Network Systems (Hughes).
OneWeb satelliteOneWeb has raised $1.4 billion to date. OneWeb aims to utilize funds to have 648 satellites by the end of 2022 from 110 satellites at present.

OneWeb’s LEO satellite system includes a network of gateway stations and user terminals for customer markets capable of delivering communications services. OneWeb launched 36 new satellites, built at its Airbus Joint Venture assembly plant in Florida, USA, in December 2020.

Neil Masterson, CEO of OneWeb, said: “OneWeb’s mission is to connect everyone, everywhere. We have made rapid progress to re-start the business since emerging from Chapter 11 in November. We welcome the investments by SoftBank and Hughes as further proof of progress to delivering our goal.”