OneWeb raises $1.2 billion in investment capital


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The competition heats up: OneWeb, in its effort to build a constellation of 900 satellites to provide internet services worldwide, has raised $1.2 billion.

Japan-based SoftBank invested $1 billion of the total $1.2 billion, and has also become a strategic partner, with one of its directors, Ronald Fisher, joining OneWeb’s board of directors. Combined with the $500 million OneWeb raised in June 2015, the total amount gathered now stands at $1.7 billion out of an expected total cost of $2.5 billion to $3.5 billion for the full constellation of 900 small satellites. OneWeb Founder Greg Wyler told SpaceNews that thanks to SoftBank, the company has raised more from investors than originally anticipated, allowing OneWeb to forgo a third investment round.

They plan to build a factory in Florida capable of building 15 satellites per week.

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3 comments

  • wayne

    OneWeb website is at
    http://oneweb.world/#home

    Check them out.
    –It’s a huge conglomeration of All The Usual Suspects; Qualcomm, Virgin Group, Intelsat, Grupo Salinas, Airbus, Hughes, Coca Cola, to name but a few.

    It sounds like capitalism but….. not quite.

  • LocalFluff

    Softbank is the Japanese investor which together with Trump after the election said they’ve now decided to invest $50bn in the US. Great that space industry is on their buying list this Christmas.

  • wayne

    LocalFluff–

    Softbank announced that “investment” 6-9 months ago.
    >We have 90 million, work-ready people, not in the labor-force. So… we need to create the Conditions for 89,950,000 more jobs, and that won’t be done “one deal at a time.”

    Go to the Securities & Exchange Commission (SEC) website at
    https://www.sec.gov/index.htm
    and look for the EDGAR search-box to read Softbank’s various filing’s.

    tangential–
    I see DJT has met with Carlos Slim. (Mexican Phone Company Billionaire) Slim will explain to Trump & Rinse why the Feds spending $4 billion a year on Free Cell Phones (which Slim supplies), is actually a Great Idea and will continue to Make America Great, Yet Once Again.
    >>If the “Life-Line Program” (aka Obama-Phones) isn’t killed instantly 100%, it will never go away. (Started at $400/million/year, is now $4 billion/year.)

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