Bharti Global has infused an additional $500 million (Rs 3,723 crore) in OneWeb, the global low earth orbit (LEO) satellite communications company, as the Sunil Mittal-led company has exercised a call option under existing shareholders’ agreement, the company said in a statement.
The infusion of capital has taken OneWeb’s total funding to $2.4 billion.
Bharti Global will hold 38.6% in the company while the UK Government, Eutelsat, and SoftBank will own 19.3% each. The company statement said that the final shareholding structure may alter to the extent a member of the shareholders’ group chooses to exercise a part of the call option.
The funding comes as OneWeb prepares for its eighth launch on 1st July.
