Satellite Internet-backbond builder O3b raised another $137 million that will...
Satellite Internet-backbond builder O3b raised another $137 million that will fund four more satellites to add capacity and redundancy over the emerging markets, the company said. The additional satellites are to launch in 2014 and will nearly double the capacity…
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from the eight medium earth orbit satellites scheduled for launch in 2013, said O3b. The capacity growth is due to the additional beams deployed and enhanced link efficiency created by a larger constellation of satellites, the company said. The funds came from existing investors and the addition of $85 million to O3b’s Coface-backed debt facility, said O3b. The additional satellites are necessary to provide service in the developing world, with global IP traffic expected to grow four fold in the next five years, said O3b CEO Steve Collar. The company has sold about a third of its capacity globally and has a contracted backlog over $600 million, the company said. O3b will use the same manufacturer and the new four satellites will be identical to the other eight, said a company spokeswoman.