The company had applied for a global mobile personal communication system (GMPCS) licence back in May-June 2021
OneWeb, the Bharti Global-backed satellite communications company has plans to locally source and develop key satellite communication equipment. The company told Department of Telecommunications (DoT) that the same will consist of low-cost user-access terminals coupled with gateway ground station infrastructure.
The same will also be build a devices and components ecosystem in India. The company, as per a report by the Economic Times, is in talks with several India-based players at the moment.
It is to be noted here OneWeb has recently secured further funding on the anniversary of the successful bid by the UK Government and Bharti Global to purchase OneWeb from US Chapter 11 to bring its total funding to $2.4 billion. OneWeb has completed its transformation with the exercise of a Call Option by Bharti to invest an additional $500m into the company.
“In just a year and during a global pandemic, together we have transformed OneWeb, bringing the operation back to full-scale. With this round of financing, we complete the funding requirements. We will continue to work alongside our partner shareholders, UK Government, Softbank and Eutelsat, to realise this unique opportunity,” Shravin Mittal, Managing Director of Bharti Globalhad said earlier.
The company had applied for a global mobile personal communication system (GMPCS) licence back in May-June 2021. OneWeb had recently secured $550 million in funding from Eutelsat Communications, bringing its total funding to $1.9 billion in fresh equity. The company had recently launched another 36 satellites into its constellation bringing the system to 182 satellites.
Airtel subsidiary Nettle Infrastructure Investments had procured a complete stake in OneWeb India Communications Pvt Ltd for an undisclosed amount recently.
OneWeb is preparing to launch its fast broadband services in India by June 2022. UK-based Network Access Associates Ltd, a OneWeb group company, was in the process of seeking foreign direct investment (FDI) approval for investment in OneWeb India Communications Private Ltd in April 2021.
