According to Fortune, SoftBank Group has agreed to invest $1 billion in OneWeb. The investment is part of a $1.2 billion fundraising by OneWeb, with the remaining $200 million funded by its current investors.

OneWeb is building a network of satellites to provide Internet connectivity. OneWeb can address the most demanding global connectivity challenges and sudden infrastructure crises. Those affected by hurricanes, earthquakes and refugee situations are often abruptly without infrastructure - OneWeb will bridge these gaps providing instantly deployable connectivity or long-term access solutions.