OneWeb has raised $1.2 billion in funding to hopefully establish satellite-based internet services as soon as 2019. The company says its new funds will "support" the development and use of a high-volume satellite production facility in Florida. OneWeb announced that facility earlier in 2017, stating it'll create 15 satellites per week.
$500 million of its funding comes from Airbus, Qualcomm, Virgin, Boeing, and others. The latest financing is led by SoftBank.
OneWeb plans to have its production facility set up in Florida by 2018. It'll create 4,000 new jobs in the area over the next four years.
It intends to eventually cover the entire globe with wireless internet access. It has a specific goal of connecting every school by 2022.
With this new round of funding and based on our rapid technical progress over the past year, we also announce a much larger goal: To fully bridge the Digital Divide by 2027, making Internet access available and affordable for everyone,- Greg Wyler, founder, OneWeb
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