After a year in which it had to declare bankruptcy, Chapter 11, 2021 is a much better start for OneWeb’s satellite Internet startup. Two weeks after the start of the year, the company secured a $ 400 million investment from SoftBank and Hughes Network Systems, bringing its total funding to date to $ 1.4 billion. With this new cash injection, OnWeb claims to have everything it needs to launch its entire first generation of 648 satellite constellations by the end of 2022.
OneWeb is one of several companies that want to provide broadband internet to underserved areas using a low-orbit satellite network. At the moment, its fleet consists of 110 vessels. This means that it will be necessary to manufacture and launch more than 500 additional satellites in the space of two years to meet its goal. Still, it is in a much better position today than it was exactly a year ago. After OneWeb declared bankruptcy in late March, Bharti in the United Kingdom and India bought a 45 percent stake in the company. In December, he was able to place 36 new satellites in low Earth orbit.