OneWeb raises $1.2B to offer satellite-based internet services as soon as 2019

OneWeb said the money will be used to “support” a high-volume satellite production facility that will be located in Florida that was first announced at the start of the year. The ambitious project aims to churn out 15 satellites each week at “a fraction of the cost of what any satellite manufacturing facility in the world can produce today,” the firm said in an announcement today. Development of the Florida-based is scheduled to be completed in 2018. The company said it will create around 3,000 new jobs over the next four years. – Jon Russell, TechCrunch