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HSF advises OneWeb on investments from Eutelsat, bringing OneWeb’s total funding to US$1.9 billion
Leading global law firm Herbert Smith Freehills has advised Bharti Global and the UK Government (through the Secretary of State for Business, Energy and Industrial Strategy) on a US$550m investment in OneWeb from Eutelsat, a listed French satellite and telecommunications company, bringing OneWeb’s total funding to just under US$2 billion.
The capital raised to date positions OneWeb to be fully funded for its first-generation satellite fleet, totalling 648 satellites, by the end of 2022.
In November 2020, Bharti Global and the UK Government completed its acquisition of OneWeb and invested US$1 billion of new equity to offer broadband connectivity services, via a constellation of 650 Low Earth Orbit satellites. OneWeb launched a further 36 new satellites, built at its Airbus Joint Venture assembly plant in Florida, USA, bringing its total fleet to 182 satellites.
January 18, 2021
OneWeb, the Low Earth Orbit satellite communications company jointly owned by the UK Government and Bharti Global (the Airtel parent’s London-based international subsidiary), announced on January 15 that it had secured additional funding from SoftBank and Hughes Network Systems, bringing its total funding to $1.4 billion. “The capital raised to date positions the Company to be fully funded for its first-generation satellite fleet, totaling 648 satellites, by the end of 2022,” Bharti said in a press release.
OneWeb hopes to be delivering broadband worldwide using its satellite constellation as backhaul, and says it will leverage this technology for 5G as well, similar to SpaceX’s Starlink, which may have ambitions to enter the Indian market. OneWeb’s LEO satellite system includes a network of global gateway stations. In December, OneWeb launched 36 new satellites, built at its Airbus Joint Venture assembly plant in Florida, bringing the Company’s total f
/PRNewswire/ OneWeb, the Low Earth Orbit (LEO) satellite communications company jointly owned by the UK Government and Bharti Global, announced today that.
January 15, 2021
OneWeb is the Low Earth Orbit satellite communications company jointly owned by the UK government and Bharti Global - REUTERS
OneWeb is the Low Earth Orbit satellite communications company jointly owned by the UK government and Bharti Global - REUTERS×
Total funding jumps to $1.4 billion
OneWeb, the Low Earth Orbit (LEO) satellite communications company jointly owned by the UK government and Bharti Global, said it has secured additional funding of $400 million from SoftBank Group Corp (SoftBank) and Hughes Network Systems LLC (Hughes), bringing OneWeb’s total funding to $1.4 billion.
The investments made on Friday by Hughes and SoftBank will help realise the full potential of OneWeb in connecting enterprise, government and mobility customers, especially with multi-transport services that complement our own geostationary offerings in meeting accelerating demand for broadband around the world, the company said in a statement.
Jan 15, 2021
Another lifeline of funding and support has been thrown to UK part-owned LEO project, OneWeb
If it can execute its current slimmed down plan efficiently it may just about be able to hold on, despite further challenges from rival LEO consortia
Elon Musk is already piloting his Starlink service while the EU is girding its loins for an ‘aggressive’ push into space
OneWeb, the Low Earth Orbit (LEO) satellite system that refuses to die now looks destined to reach some sort of fruition as another pair of well-financed wannabe space players steps up to throw more money into the pot.