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To Launch Satellite-Based Internet Service on WEB Raised $1.2 Billion

The steps towards acquiring new trending technologies among the rivalries to beat the competition and achieve the dominance in the market have become a quite a trend now. Current situations are based on “Whoever Has The Concept, Grabs It”.

Same goes with Tesla and OneWEB. While Tesla is still in the talks about permission by the US regulatory to launch satellite Internet service, OneWEB raised a funding of $1.2 Billion to get things on the floor till 2019. The investors including Airbus, Boeing, Coca Cola, and Qualcomm have already poured $500 Million for OneWEB. However, this investment has been done by SoftBank Japan with a funding of $1 Billion.

Satellite-Based Internet Service

As per the information, the service won’t be available for every individual for some years, but the cash flow has been already charging up for the further setup.

The company further added that investment will be used for setting up facility for producing satellites in high volumes, which will be based at Florida. The team estimates to manufacture 15 satellites per week, and has projected to complete the facility by 2018. They also claimed that the project would probably generate 3,000 new jobs.

OneWEB’s prime focus is to connect the world through group of satellites which would be capable of delivering affordable Internet services around the globe.

Among all the targets, the company also has a target based on the social cause to make all the schools equipped with Internet facility by 2022.

The company goals high to achieve the aim of delivering affordable Internet access and reduce all diversions between the digitization till 2027.

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