OneWeb raises £950m from SoftBank, Grupo Salinas, Qualcomm Technologies, and the Government of Rwanda to advance its satellite network.
The major funding round was led by SoftBank, Grupo Salinas, Qualcomm Technologies, and the Government of Rwanda to accelerate deployment of the satellite constellation.
OneWeb operates a global communications network powered from space, delivering high-speed and low-latency broadband connectivity. The company deploys low Earth orbit satellites to bridge the digital divide and provide worldwide data services.
Global communications provider OneWeb has secured £950m in new funding to accelerate the deployment of its satellite network. The investment round was led jointly by SoftBank, Grupo Salinas, Qualcomm Technologies, and the Government of Rwanda.
The fresh capital follows the successful launch of the company's first satellites and will support ongoing preparations for full commercial service delivery by 2021. With backing from key industrial partners, OneWeb plans to ramp up manufacturing output and initiate high-volume launch campaigns.
From the founder
"This latest funding round, our largest to date, makes OneWeb’s service inevitable and is a vote of confidence from our core investor base in our business model and the OneWeb value proposition,"
Adrian Steckel
CEO at OneWeb
Investor perspective
"OneWeb has extended its first-mover advantage and is on track to become the world’s largest and first truly global communications network. At SoftBank, our aim is to invest in transformative companies at the leading edge of technology disruption. OneWeb’s potential is undeniable as the growth in data from 5G, IoT, autonomous driving and other new technologies drives demand for capacity above and beyond the limits of the existing infrastructure."
Marcelo Claure
COO of SoftBank Group Corp. and CEO of SoftBank Group International, SoftBank
Use of funds
- 01Continue product development
- 02Build out infrastructure
Investors
Categories
About the company
OneWeb
OneWeb builds a global communications network powered by low Earth orbit satellites.