Oneweb launches 34 satellites as it beefs up space broadband network
Oneweb has launched a further 34 satellites as the London-based startup steps up its efforts to create a space broadband network.
The satellites were launched on a Soyuz rocket from the Baikonur Cosmodrome in Kazakhstan yesterday.
It marks Oneweb’s second launch in six weeks and its third overall, taking the total number of satellites in its constellation to 74.
The Softbank-backed firm is building a network of satellites that can provide high-speed broadband connections across the globe, including in remote rural areas and at sea.
However, Oneweb has been battling hefty costs linked to the project and is said to be considering a bankruptcy filing in an effort to address a cash crunch.
The company is considering seeking court protection as one of a range of potential options, Bloomberg reported last week, citing people with knowledge of the matter. Oneweb has been contacted for comment.
Last year it emerged Softbank had written down its stake in Oneweb by £380m as the company burned through billions of pounds.
Oneweb secured $1.25bn (£1.1bn) in its latest Softbank-led funding round. Airbus, Qualcomm and Virgin Group are among the company’s other shareholders.
Oneweb is one of a number of firms plotting space-based broadband services. Tesla boss Elon Musk is developing his Starlink constellation, which would consist of up to 1m satellites, while earlier this month Vodafone invested $25m in the Texas-based Space Mobile project.
“In these unprecedented times following the global outbreak of Covid-19, people around the world find themselves trying to continue their lives and work online,” said Oneweb chief executive Adrian Steckel.
“We see the need for Oneweb greater now more than ever before. High-quality connectivity is the lifeline to enabling people to work, continue their education, stay up to date on important healthcare information and stay meaningfully connected to one another.”