Airtel picks up stake in One Web
New Delhi: Sunil Bharti Mittal-led Bharti Enterprises has acquired a minority stake in OneWeb, which plans to offer communication services using satellites by 2019. As one of the founding members of OneWeb, Bharti will have representation on the board of the company.
OneWeb on Friday announced $500 million in funding from its investors to provide affordable internet access. OneWeb aims to build a communications network with an initial constellation of 648 Low Earth Orbit satellites that will provide connectivity around the world. OneWeb satellites will provide high speed connectivity to a small user terminal.
“With more than 10 terabits per second of new capacity, the system will transparently extend the networks of mobile operators and ISPs to serve new coverage areas, bringing voice and data access to consumers, businesses, and other end users,” said Bharti.