4 years ago

OneWeb Secures $300 Million to Challenge Starlink in Satellite Internet Race

  • UK-based OneWeb, a competitor to Elon Musk's Starlink, has secured $300 million in funding from South Korean conglomerate Hanwha Systems Co

  • This investment brings OneWeb's total equity funding to $2.7 billion

  • OneWeb will use the funds to expand its network of low-Earth orbit satellites, which provide high-speed, low-latency internet services

  • The company already has 254 satellites in orbit and plans to launch more in the coming months.

      • ProblemTechnology Infrastructure

      "Connecting the world with high-speed, low-latency internet access, especially in remote and underserved areas."

      Solution

      "Building a global constellation of satellites in Low Earth Orbit to provide high-speed, low-latency internet services to everyone, everywhere. This includes a network of global gateway stations and a range of user terminals for different customer markets."

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