New Delhi, March 18 -- OneWeb, UK-based communications company, has secured its largest fundraising round to date with the successful raise of $1.25 billion in new capital. This brings the total funds raised to $3.4 billion. This round was led by SoftBank Group Corp., Grupo Salinas, Qualcomm Technologies Inc., and the Government of Rwanda.
The new funds, following the successful first launch of OneWeb's satellites, is expected to enable the company to accelerate the development of the first truly global communications network by 2021. OneWeb's system will deliver high speed, low latency, seamless broadband access, everywhere on Earth.
Adrian Steckel, CEO of OneWeb, has said in the press release that this latest funding round, which is the...