Satellite firm Oneweb secures $400m in fresh Softbank-led funding

Jan 15, 2021 - City AM

Oneweb, the satellite broadband firm bailed out by the UK government last year, has raised a further $400m (£294m) in a fresh funding round led by Softbank.

The Japanese conglomerate will also take a seat on the board of Oneweb, which was rescued from bankruptcy in November by the government and Indian billionaire Sunil Bharti Mittal.

Read more: Satellite firm Oneweb relaunched after UK government bailout

The majority of the fundi...