SoftBank Group, Grupo Salinas, Qualcomm Technologies, and the Government of Rwanda to invest $1.25bn in OneWeb.

SoftBank Group, Grupo Salinas, Qualcomm Technologies, and the Government of Rwanda to invest $1.25bn in OneWeb, a global communications company with a mission to bring connectivity to everyone, everywhere. This brings the total funds raised to $3.4bn. The new funds, following the successful first launch of OneWeb's satellites, 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. "This latest funding round, our largest to date, makes OneWeb's service inevitable and is a vote of confidence from our core investor base in our business model and the OneWeb value proposition. With the recent successful launch of our first six satellites, near-completion of our innovative satellite manufacturing facility with our partner Airbus, progress towards fully securing our ITU priority spectrum position, and the signing of our first customer contracts, OneWeb is moving from the planning and development stage to deployment of our full constellation. Our success is made possible thanks to the backing of our investors and the cooperation of our world class commercial partners including Arianespace, Airbus, Qualcomm Technologies Inc., Virgin, and Hughes," Adrian Steckel, OneWeb CEO.