Wednesday, February 8, 2023

OneWeb Secures Funding to Launch Over 500 Internet Satellites

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After a year where he had to declare Chapter 11 Bankruptcy, 2021 is off to a much better start for satellite Internet OneWeb. Two weeks after the start of the new year, the company got a Investment of $ 400 million from SoftBank and Hughes Network Systems, bringing its total funding to date to $ 1.4 billion. With this new injection of money, OnWeb says it has everything it needs to launch all of its first generation of 648 constellation satellites by the end of 2022.

OneWeb is one of several companies who wish to provide high-speed Internet access to underserved areas using a network of low-orbit satellites. At the moment, its fleet consists of 110 boats. This therefore means that it will have to manufacture and launch more than 500 additional satellites within two years to achieve its goal. Yet he is in a much better position today than exactly a year ago. After OneWeb declared bankruptcy in late March, the UK and India bought a 45% participation in the society. In December, he was able to put 36 new satellites into low earth orbit.

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