The initial global communication service provider Oneweb has appended $1.25bn in new sponsoring enabling it to boost its plans to introduce an international high-speed broadband network. The firm told the money meant its 2021 introduce was now “inevitable”.

The sponsoring comes after the company successfully introduced its first satellites for the service in the last month. The firm is engaging with several opponents, including SpaceX of Elon Musk, which is targeting to build the same network for global internet coverage.

Their target is to spread the internet to the parts of the world where there is no broadband at the present time or a variable service. The latest sponsoring round means Oneweb has lifted $3.4bn totally from a host of investors including Japanese tech giant Softbank, Sir Richard Branson’s Virgin Group, drinks gigantic Coca-Cola and chip-manufacturer Qualcomm.

The company told the money would authorize it – by the end of the year – to initiate monthly introduces of more than 30 satellites.

Ultimately these spacecraft will build a recognizable pattern targeted at providing full global internet coverage. For providing global internet coverage, there will require to be 650 units in orbit, but the final number could escalate up to 2,000.

The firm informed the monthly introduction will be “ the largest satellite launch campaign in history”. American telecoms entrepreneur Greg Wyler informed media that his target was to assist people of the developing countries.

It also added, “ If you look across emerging markets where there is no internet access or very limited access, generally you see poverty. Health-care issues, gender inequality – whatever issue you can come up with, they all fall within that same map. The fundamental underlying thing is that people don’t have opportunity; they don’t have an opportunity to learn, to take themselves out of poverty, to build their communities, and that’s why connectivity is so important.”

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