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SpaceX competitor Eutelsat raising €1.35B in new funding
- French satellite operator Eutelsat SA is raising €1.35 billion in new funding to support growth initiatives with over half of the capital provided by the French government.
- The funding includes participation from Bharti Space, CMA CGM, and Fonds Strategique de Participations, making them owners of over 60% of Eutelsat.
- The U.K. government, holding a 10.9% stake in Eutelsat post a merger, might also join the funding round.
- OneWeb, Eutelsat's LEO satellite network, is the second largest after SpaceX's Starlink with plans to deploy 440 new satellites.
- Eutelsat will upgrade OneWeb to compete with Starlink, covering a part of the 2.2 billion euro budget for the project.
- Airbus SE will deliver 100 new satellites to Eutelsat starting in late 2026 with onboard software update capabilities.
- Eutelsat's revenue backlog stands at €3.7 billion with internet connectivity deals making up the majority.
- Eutelsat operates both traditional GEO satellites and the OneWeb constellation for satellite services.
- The lower-altitude LEO satellites reduce latency and launch costs compared to historically higher GEO satellites.
- Eutelsat's funding round aims to enhance its satellite network capabilities and compete more effectively in the market.
- The funding will aid in expanding and modernizing Eutelsat's satellite constellation to meet growing demands.
- The new funding deal is anticipated to close by the end of the year to facilitate Eutelsat's strategic growth initiatives.
- The funding sources include French government support along with investments from multiple companies to bolster Eutelsat's position in the satellite industry.
- UK government, holding a stake in Eutelsat, may potentially increase its investment in the company in the future.
- SpaceX's Starlink remains the largest LEO satellite network, with Eutelsat aiming to strengthen its position through infrastructure enhancements.
- The funding will help Eutelsat enhance competition in the satellite market and broaden its satellite services offerings.
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