The Briefing: OneWeb Raises Big New Round, Tiger Global Eyes $3.5B Fund, And More
OneWeb raises SoftBank-backed round for satellite networkOneWeb, the heavily funded developer of low earth orbiting communications satellites, announced that it has secured additional funding from SoftBank and Hughes Network Systems. The Financial Times reports that SoftBank invested a further $350m into OneWeb. The financing comes after the satellite internet company went into bankruptcy last year after being unable to secure an urgent funding round. In December 2020, it launched 36 new satellites, bringing the its total fleet to 110 satellites. New fundsTiger Global reportedly raising $3.5B: Startup and growth-stage investment firm Tiger Global Management is reportedly seeking to raise $3.5 billion for a fund called Tiger Private Investment Partners XIV that it expects to close in March.