SoftBank Group Corp has agreed to invest $1 billion in U.S. satellite venture OneWeb Ltd.
The investment is part of a $1.2 billion fundraising by OneWeb, which is seeking to provide affordable internet access to people around the world with satellites.
OneWeb, established in 2012 in Virginia, will use the funds to build a plant in Florida to produce low-cost satellites.
The OneWeb satellite constellation is constellation of approximately 648 satellites. So, it is expected to provide global Internet broadband service to individual consumers as early as 2019. The constellation is proposed by the company WorldVu Satellites Ltd. The company is expected to require up to US$3 billion in capital by the time the full constellation becomes operational in 2019–2020.
Then, the 648 communication satellites will operate in circular low Earth orbit, at approximately 1,200 km altitude. Furthermore, it will transmit and receive in the Ku band of the radio frequency spectrum.
In conclusion, company’s business plan is attempting to “reach hundreds of millions of potential users residing in places without existing broadband access.
