logo
Plus   Neg
Share
Email

OneWeb Announces $1.2 Bln SoftBank-led Investment - Quick Facts

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.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alphabet's subsidiary Loon LLC has secured its first commercial deal - to deliver 4G internet access to remote areas of Kenya using high-altitude balloons. Loon will partner with Telkom Kenya to deliver connectivity to parts of Kenya. Telkom Kenya announced Thursday that it has signed a definitive agreement with Loon to pilot a new 4G/LTE access network service in Kenya. The Cow Calendar era is coming to an end. Chick-fil-A said it is axing one of its well-loved products, the Cow Calendar. The 2018 Cow Calendar will be the chicken chain's last calendar. Chick-fil-A first launched the Cow Calendar in 1998 that featured cows as a new tool to convince people to eat more chicken. The calendars were popular not just for the pictures of funny Chick-fil-A cows. Japanese telecom giant Nippon Telegraph and Telephone or NTT has filed a patent for a blockchain technology-based new contract agreement method. NTT, the world's fourth-largest telecom provider, explains the ways to use the application to store contracts without tampering documents.
Follow RTT