Satellite telecom startup OneWeb, emboldened by the oversubscribed $1.2 billion Softbank-led investment gained in December, is on the verge of adding another 2,000 satellites to its previously proposed constellation of several hundred satellites…..
On Wednesday, Greg Wyler, OneWeb’s founder and executive chairman, told an audience at the Royal Aeronautical Society in London that the company has sold a considerable portion of the capacity of its initial planned constellation and is seriously considering quadrupling its size.
“We are adding 2,000 satellites at different altitudes in low Earth orbit,” Wyler told SpaceNews in London. “We have priority rights to another 2,000 satellites — 1,972 satellites, to be precise. With Softbank we have reinvigorated our activities and started talking about the strong possibility that we will be adding to the constellation using our priority rights.”
The expansion plans materialized after Japanese mogul Masyoshi Son, the CEO of SoftBank, jumped on board with a $1 billion investment. Previous investors committed to an additional $200 million, bringing OneWeb’s total capital raised to $1.7 billion.