OneWeb Ltd. and SoftBank Group Corp. announced that OneWeb has secured $1.2 billion in funded capital from SoftBank and existing investors, of which $1 billion will come from SoftBank.
OneWeb aims to enable affordable internet access for everyone and the company is building a communications network with a constellation of Low Earth Orbit satellites that will provide connectivity to billions of people around the world. The fundraising will support the company's technological development and the construction of the world's first high volume satellite production facility. The new facility, based in Exploration Park, Florida will be capable of producing 15 satellites per week at a fraction. The investment is expected to create nearly 3,000 new engineering, manufacturing and supporting jobs in the U.S. over the next four years.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.