OneWeb raises $400M in equity from SoftBank and Hughes

by Peter B. de Selding

PARIS — Satellite-broadband provider OneWeb raised $350 million in new equity from its previous lead investor, SoftBank Group Corp., and $50 million from ground-segment hardware provider Hughes Network Systems, bringing total financing to $1.4 billion — about $800 million short of what it needs to complete its first-generation constellation.

London-based OneWeb emerged from Chapter 11 bankruptcy in November under the co-ownership of the British government and India’s Bharti Global telecom operator. Each promised $500 million.

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