O3b Networks Raises $460 Million for Eight Additional Satellites
[Via Satellite 12-10-2015] O3b Networks has closed $460 million in incremental financing, the company announced Dec. 10, which the operator will use to expand the total number of High Throughput Satellites (HTS) in its constellation from 12 to 20.
O3b began full commercial operations in September 2014 and, according to the company, has since become the fastest growing satellite operator in history. Today O3b supports connectivity for more than 40 customers worldwide, with more than 50 percent of those customers having already upgraded their service commitments to O3b during the first year of commercial operation. The eight new satellites will continue to accommodate growing demand for robust, high throughput connectivity.
“Our constellation is highly scalable and can be grown in direct response to market demand. In only a little over a year from our full commercial launch, we can already see the need for substantially more capacity in orbit to serve our customers,” said Steve Collar, CEO of O3b Networks.