OneWeb gets extra $500m from SoftWeb
December 12, 2017
By Chris Forrester
Hot on the heels of the news that OneWeb has struck a deal with Boeing to launch another constellation of almost 3000 satellites, and in addition to the launch of an already planned 640 satellites in its existing mega-constellation, comes news that Japan’s SoftBank is to invest an extra $500 million in OneWeb.
OneWeb is planning to circle the planet with a mega-constellation of about 640 satellites, and to start services as soon as 2019, and working in the Ku-band about 1200 kms above the Earth. Japan’s SoftBank is a major investor in OneWeb, along with Qualcomm, Virgin Group, Intelsat, Coca-Cola and others. Airbus is already building the fleet’s initial ‘test’ satellites.
Japanese media conglomerate SoftBank has already invested $1 billion in OneWeb, and has agreed to place a further $500 million into the satellite business. OneWeb reportedly says that SoftBank’s overall stake will remain at less than 50 per cent.
OneWeb founder says he is planning for a more powerful fleet of satellites than originally planned.