Thursday, 27 January 2022

OneWeb’s space race: From bankrupt to billions

by Harry Baldock, Total Telecom
Wednesday 17 November 21

The latest figures revealed that OneWeb paid $49.3 million in fees to bankers, lawyers, and advisors in order to dig itself out of bankruptcy

UK satellite company OneWeb has seen a meteoric rise since initially filing for bankruptcy in March 2020. Since then, saved by an initial combined $1 billion investment from the UK government and India’s Bharti Global, OneWeb has gone on to attract over $2.7 billion from various investors, including Eutelsat, Hanwha, and SoftBank. Now, the company is targeting global coverage of its low Earth orbit (LEO) satellite constellation, looking to increase the number of devices it has in orbit from 358 today to 648 at some point next year. The company has also been very active in seeking out partners for its budding constellation…

UK satellite company OneWeb has seen a meteoric rise since initially filing for bankruptcy in March 2020. Since then, saved by an initial combined $1 billion investment from the UK government and India’s Bharti Global, OneWeb has gone on to attract over $2.7 billion from various investors, including Eutelsat, Hanwha, and SoftBank. Now, the company is targeting global coverage of its low Earth orbit (LEO) satellite constellation, looking to increase the number of devices it has in orbit from 358 today to 648 at some point next year. The company has also been very active in seeking out partners for its budding constellation…

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