The battle for satellite-powered internet is heating up. Weeks after Tesla asked the U.S. Government for permission to launch a service powered by thousands of satellites above the Earth, rival project OneWeb has raised $1.2 billion in new funding to get things rolling as soon as 2019.
Networks are not likely to operational for most people for years, but the money is already flowing in large amounts. OneWeb has raised $500 million from a bevy of investors that include Airbus, Qualcomm, Virgin, Boeing and Coca Cola. This new financing is led by Japan’s SoftBank, which is cutting a $1 billion check for the company. Read more: click on image or title.
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