Main Engine Cut Off

OneWeb Raises Another $1.25 Billion

Caleb Henry, for SpaceNews:

Japanese tech giant SoftBank — OneWeb’s largest investor — led the round, as did returning investors Grupo Salinas, Qualcomm Technologies, and the government of Rwanda.

The new financing bring OneWeb’s total funding to $3.4 billion, following a $500 million round in 2015, a $1.2 billion round in 2016 and undisclosed fundraising of around $450 million last year.

Seems like one of those rounds of funding that was contingent on getting the first satellites up, but good to see the money still flowing into OneWeb. And boy, will they need it:

OneWeb no longer shares cost projections for the system, which originally were between $2.5 billion and $3.5 billion, but have been externally estimated at as high as $7.5 billion.