WorldVu Satellites, the US-based satellite-based internet technology startup operating as OneWeb, has raised an undisclosed amount of funding from wireless technology company Qualcomm and diversified conglomerate Virgin Group.
Founded in 2014 by Greg Wyler, a former employee at internet company Google, OneWeb plans to bring internet and telecommunications services to billions of people through the development of a constellation of 648 micro-satellites in low-earth-orbit.
Richard Branson, founder of Virgin Group and its subsidiary Virgin Galactic, and Qualcomm executive chairman Paul Jacobs will join OneWeb’s board of directors in conjunction with the funding.
In addition to its investment, Virgin Galactic will also assist OneWeb through LauncherOne, its satellite launch programme. Virgin claims LauncherOne can potentially launch satellites more frequently, reliably and at a much lower cost than rival technology.
Branson said in a statement released on Thursday: “We are excited by OneWeb’s bold vision to launch this major satellite constellation and be one of its key early investors.
“Imagine the possibilities for the three billion people in hard to reach areas who are currently not connected.”
Jacobs added: “We are pleased to join Virgin as an initial investor, and we look forward to helping fund initial technical feasibility work for the satellite system.”
– Image courtesy of Virgin Galactic