wordpress blog stats
Connect with us

Hi, what are you looking for?

OneWeb raises $1.2B for its satellite based Internet connectivity project

Japanese investment firm Softbank has invested $1 billion into OneWeb, a startup that aims to provide global Internet connectivity using a series of 648 satellites, reports Wall Street Journal. Existing investors have also pitched close to $200 million in the new round, while Softbank is poised to own 40% stake in OneWeb after the investment goes through, added the report. Current investors in OneWeb include Airbus, Bharti, Coca-Cola, Hughes, Intelsat, MDA, and Virgin. The company’s valuation will shoot up to $2.5 billion after the new round of investment, according to the report. OneWeb will use the fresh funds to extend worldwide Internet access via its satellites by 2027, and to bring connectivity to “every unconnected” school by 2022, according Greg Wyler, the company’s Founder and Chairman. Wyley said that the company will launch initial 10 satellites which will carry out detailed testing, and six months later it will initiate launch of “full campaign”. The aim is to start providing low latency broadband access at Gigabit per second levels by 2019. Role of telecom operators and Bharti’s investment in OneWeb Spectrum for connectivity will come from unlicensed frequencies or through partnerships with telecom operators. The company said that its small cell terminals installed in ground locations will connect to its satellites and transmit Internet to surrounding areas via operator owned LTE, WiFi, 2G and 3G networks. Terminals installed by OneWeb can also be used as access points for schools, hospitals, for weather and navigation systems, and to provide emergency services in areas affected by…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ