OneWeb Says Mega Constellation 'Inevitable' With $1.25 Billion Fundraising
A $1.25 billion fundraising round means OneWeb now has the rest of the money needed for its 650-satellite broadband satellite constellation to go active by 2021, a spokesperson said Monday. OneWeb said the new funding round was led by SoftBank,…
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Grupo Salinas, Qualcomm and the Rwandan government. It said it makes the satellite service "inevitable." OneWeb CEO Greg Wyler tweeted the money "keeps us on track to achieve our mission as our Florida satellite facility moves into full production." OneWeb said starting in Q4, it expects to begin monthly launches of more than 30 satellites at a time. The first six satellites of the constellation were launched last month (see 1902280007).