LEO Satellite Communications Co. OneWeb Secures New $500M Investment

Aitechpark30 Jun, 2021Technology

? Bharti Global (Bharti) exercises Call Option under existing shareholders? agreement to invest an additional $500m ? OneWeb secures funding on anniversary of HMG/Bharti bid ? Company financially secure, with no debt issuance OneWeb, the global Low Earth Orbit (LEO) satellite communications company, has secured further fund-raising on the anniversary of the successful bid by UK Government and Bharti Global (Bharti) to purchase OneWeb from US Chapter 11 to bring its total funding to $2.4 billion. OneWeb has completed its transformation with the exercise of a Call Option by Bharti to invest an additional $500m into the company.