Thirty satellites orbited behind a Russian Soyuz rocket on Friday, purchased by OneWeb from the European aerospace company, ArianeSpace.
Those satellites will connect others with 74 others that Oneweb launched into space before the announcement Bankruptcy
In March, investors struggled to secure additional funding, as investors tightened their belts in the early days of the Covid-19 epidemic. Softbank, the largest financial backbone of most of its existence, was under Increasing pressure
To clear risky companies after a series of bad bets on tech companies from its investors.
OneWeb suspended most of 2020’s work as it reorganized Chapter 11. British Government and India based Bharti Global Become
After Oneweb’s primary shareholders put billion 1 billion into the venture during bankruptcy proceedings.
Building a giant constellation of Internet-beaming satellites is not an easy feat: many companies tried and failed to bring such a business model to life in the 1990s, but they all either came down, threw away towels or drastically changed their business plans. Realizing the plan was more expensive than previously thought.
But a bunch of companies are trying again, and Oneweb’s stiff competition will come from Elon Musk’s SpaceX, which has launched about 1,000 satellites, will bring its service to early beta testers, and is expected to start its commercial business next year.
The company, which says its galaxy will need only 650 satellites, Plans
It will focus on making its service debut by the end of 2021 and delivering services to businesses directly to customers.