OneWeb, which is building a constellation of satellites to enable global broadband access, and SoftBank (SFTBY) announced that OneWeb has secured $1.2B in funded capital from SoftBank and existing investors, of which $1B will come from SoftBank.

The $1.2B fundraising round will support OneWeb's revolutionary technological development and the construction of a high volume satellite production facility. The new facility, based in Exploration Park, Florida will be capable of producing 15 satellites per week and expediting construction, launch and operations of its communications network.

The investment is expected to create nearly 3,000 new engineering, manufacturing and supporting jobs in the U.S. over the next four years. The SoftBank-led investment will also support development to enable global access to affordable high-speed internet services for everyone, including every unconnected school in the world by 2022, as well as using OneWeb's leading technology for growing global markets including consumer broadband, connected cars, cellular backhaul and the Internet of Things. OneWeb will begin production at the new manufacturing facility in Exploration Park, Florida, beginning in 2018.