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OneWeb Raises Fresh $1.25 Billion for Internet System From Space

  • SoftBank, Qualcomm and Rwandan government are among investors
  • Funds to be used to build more satellites in Florida factory

OneWeb -- fresh off launching its first batch of satellites -- has pulled in another huge round of funding as it seeks to build a worldwide internet system delivered from space.

On Monday, the seven-year-old startup announced that it had just raised $1.25 billion, bringing its total investment to date to $3.4 billion. SoftBank Group Corp., Grupo Salinas, Qualcomm Technologies Inc. and the Government of Rwanda led the latest round, while Virgin Group, Coca-Cola and Airbus are existing investors. “We are committed to bridging the digital divide, and this funding helps ensure our globally shared dream will soon become a reality,” said Greg Wyler, the founder of OneWeb, in a statement.