Bharti’s OneWeb gets $330 million from Hanwha Systems for 8.8% share

Bharti Enterprises-led low earth orbit (Leo) satellite communications company, OneWeb has received a $300 million equity investment from South Korean firm Hanwha Systems. With this funding, OneWeb’s total equity investment since November 2020 comes to $2.7 billion with no debt issuance. The South Korean firm will get an 8.8% share in OneWeb in lieu of the investment.

The London-headquartered company plans to launch a total of 648 Leo satellites by June 2022 to construct a global satellite constellation that will provide enhanced broadband and other services to countries around the world. Currently, 254 Leo satellites are operational, with another launch planned this August from Baikonur, Kazakhstan.