Bharti Global, the overseas branch of Bharti Enterprises, will invest another US $ 500 million (Rs 3,714 crore) in OneWeb, a low-Earth orbit (LEO) satellite communications company that is cooperating with Elon Musk’s SpaceX and Amazon. . Companies compete. Kuiper plans to make venture capital investments in the emerging space broadband sector.
Moreover, by 2022, the total investment in OneWeb will increase to $1 billion. The Bharti company will have a 38.6% stake in the satellite company. The Bharti Global injection will bring OneWeb’s total funding to US $ 2.4 billion. The British government, Eutelsat and SoftBank will each own 19.3% of OneWeb. The remaining 3.5% will belong to Hughes Network Systems.
OneWeb completed its transformation through the exercise of Bharti call options. They invested another US $ 500 million in the company.
“Moreover, OneWeb’s ultimate share structure may change within the scope of shareholder group members who choose to exercise some call options.
Bharti Enterprises Chairman Sunil Mittal said that OneWeb is an investment in the critical time to go to market in the space. Moreover it provides a unique opportunity to meet the important needs of those left behind in high-speed broadband connections.
OneWeb is building a global constellation of 648 LEO satellites to provide high-speed, low-latency satellite broadband services in rural,remote areas. Moreover, it plans to launch satellite internet services in India by June 2022, and has recently applied for a GMPCS or “Global Mobile Personal Communications Satellite Service” license from the telecommunications sector.
Moreover, OneWeb plans its eighth launch on July 1 to provide satellite coverage in the Arctic region. However, the funding for its launch is already met.
Read more-
Apple working on redesigning iPad Mini and iPad Pro with wireless charging
Starlink hits a new record in the history of Internet speeds
Biden to blacklist firms linked to Chinese military and tech
