OneWeb received a new investment from SoftBank and Hughes for $400M, for which SoftBank will gain a seat on the Board of Directors
The company has made rapid progress to re-start the business since emerging from Chapter 11 in November and OneWeb’s new owners, the UK Government and Bharti Global, are making changes. The total constellation size will be roughly 7,000, down from the 48,000 or so proposed last year, with a current total fleet of 110 satellites.
According to the firm, they remains focused on launching its first-generation system of 648 satellites and is on track to start regional commercial services within a year.
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