OneWeb raises $1.25 billion
Capitalism in space: Following the launch of the first six satellites for its 650 satellite constellation to provide worldwide internet services, OneWeb today announced that it has successfully raised $1.25 billion in new investment capital.
…it has secured its largest fundraising round to date with the successful raise of $1.25 billion in new capital. This brings the total funds raised to $3.4 billion. This round was led by SoftBank Group Corp., Grupo Salinas, Qualcomm Technologies Inc., and the Government of Rwanda.
The new funds, following the successful first launch of OneWeb’s satellites, enable the company to accelerate the development of the first truly global communications network by 2021.
…OneWeb’s satellites, produced through its joint venture with Airbus doing business as “OneWeb Satellites”, will ramp-up production this spring at its new, state-of-the-art manufacturing facility in Exploration Park, Florida. Following the company’s successful launch of satellites on February 27th, OneWeb will embark on the largest satellite launch campaign in history. Starting in Q4, OneWeb will begin monthly launches of more than 30 satellites at a time, creating an initial constellation of 650 satellites to enable full global coverage. After this first phase, OneWeb will add more satellites to its constellation to meet growing demands.
This puts OneWeb significantly ahead of everyone else, including SpaceX, in the race to launch the first space-based system for providing internet services. Their planned launch pace also illustrates why there is a flood of new smallsat rocket companies. They, and others, have a clear need for launch services, which presently cannot be provided by the existing launch companies.
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Capitalism in space: Following the launch of the first six satellites for its 650 satellite constellation to provide worldwide internet services, OneWeb today announced that it has successfully raised $1.25 billion in new investment capital.
…it has secured its largest fundraising round to date with the successful raise of $1.25 billion in new capital. This brings the total funds raised to $3.4 billion. This round was led by SoftBank Group Corp., Grupo Salinas, Qualcomm Technologies Inc., and the Government of Rwanda.
The new funds, following the successful first launch of OneWeb’s satellites, enable the company to accelerate the development of the first truly global communications network by 2021.
…OneWeb’s satellites, produced through its joint venture with Airbus doing business as “OneWeb Satellites”, will ramp-up production this spring at its new, state-of-the-art manufacturing facility in Exploration Park, Florida. Following the company’s successful launch of satellites on February 27th, OneWeb will embark on the largest satellite launch campaign in history. Starting in Q4, OneWeb will begin monthly launches of more than 30 satellites at a time, creating an initial constellation of 650 satellites to enable full global coverage. After this first phase, OneWeb will add more satellites to its constellation to meet growing demands.
This puts OneWeb significantly ahead of everyone else, including SpaceX, in the race to launch the first space-based system for providing internet services. Their planned launch pace also illustrates why there is a flood of new smallsat rocket companies. They, and others, have a clear need for launch services, which presently cannot be provided by the existing launch companies.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
This is exciting news as a competitive OTT (over the top) broadband solution ought to muffle the only decent argument for a government travesty called “Net Neutrality”. People now say they can only get one (or a very poor second choice) service provider and so the gatekeepers are needed. Pshaw!
This puts OneWeb significantly ahead of everyone else, including SpaceX,
As they use to say, “Never pick a fight with someone who buys ink by the barrel”, owning your own rockets ought to close that gap pretty fast.
Rawanda? That’s weird
Sorry, typo. Rwanda
Doesn’t SpaceX have a launch coming up dedicated to their satellite constellation?
I think OneWeb is engaging in a bit of hyperbole. SpaceX not only got its test satellites up well before OneWeb, it is rumored to be planning a May launch of the first deployable production units – exact number of sats uncertain. If this occurs, it would be several months in advance of OneWeb’s Q4 plans.
2019 is certainly shaping up to be Year 1 of the big LEO comsat constellations.
Dick Eagleson wrote: “2019 is certainly shaping up to be Year 1 of the big LEO comsat constellations.”
I’ve been reading the word “megaconstellations” for these.