Home / Companies / News / Bharti-backed OneWeb raises $330mn from South Korea's Hanwha Systems

Bharti-backed OneWeb raises $330mn from South Korea's Hanwha Systems

Hanwha brings further defence capabilities and the latest antenna technologies to OneWeb

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So far, the company has launched 254 satellites into orbit, with another launch planned this August from Baikonur Cosmodrome in Kazakhstan.

Megha Manchanda New Delhi

2 min read Last Updated : Aug 13 2021 | 12:15 AM IST

Bharti Group-backed OneWeb on Thursday said Hanwha Systems of South Korea will infuse $300 million (Rs 2,228 crore) for an 8.8-per cent share in the low Earth orbit (LEO) satellite communications company.

The investment, expected to be completed in the first half of 2022 after necessary regulatory approvals, will bring OneWeb's total equity investment since November 2020 to $2.7 billion with no debt issuance.

"Hanwha, the South Korean Fortune 500 global technology (tech) and manufacturing company, has announced a $300-million equity investment by Hanwha Systems in OneWeb, the LEO satellite communications company backed by Bharti Group," said OneWeb in a

Topics : Bharti Group fundings start- ups fund raising

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