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After a year in which it had to file for Chapter 11 bankruptcy, 2021 is on a much better start for satellite internet startup OneWeb. Two weeks after the start of the new year, the company secured a $ 400 million investment from SoftBank and Hughes Network Systems, bringing its total funding to $ 1.4 billion to date. With this new injection of money, OnWeb says it has everything it needs to launch all of its first generation of 648 constellation satellites by the end of 2022.
OneWeb is one of many companies looking to provide high-speed internet access to underserved areas using a network of low-earth orbit satellites. At the moment, its fleet is made up of 110 boats. This therefore means that it will have to manufacture and launch more than 500 additional satellites in the space of two years to achieve its goal. Yet he is in a much better position today than exactly a year ago. After OneWeb declared bankruptcy in late March, UK and India Bharti bought a 45% stake in the company. In December, he was able to put 36 new satellites into low earth orbit.
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