UK government | Pixr8 News

LONDON, July 3, 2020 -- Satellite communications company OneWeb has entered into an agreement with a consortium led by HMG (through the UK Secretary of State for Business, Energy, and Industrial Strategy) and India based Bharti Global Limited for the acquisition of the OneWeb business. A consortium of Her Majesty's Government (HMG) (through the UK Secretary of State for Business, Energy, and Industrial Strategy) and Bharti Global Limited has committed to providing more than USD $1 billion funds to restart of its business operations. OneWeb will look to resume operations as soon as possible and continue with progress towards providing global high-speed, low latency connectivity via its state-of-the-art satellite constellation. ALSO READ: Sunil Bharti Backed OneWeb To Build 15 Inte...

Unicorn India, a Mumbai based early stage VC has collaborated with British counterpart Ascension Ventures to launch a cross-border evergreen fund between two countries. Dubbed as "Unicorn Ascension EIS Fund", it is an open-ended fund (Enterprise Investment Scheme)that aims to raise up to Rs. 45 crores ( £5 million approx) per year with investments at the pre-series A stage across 6-8 UK-based startups building products and services relevant to the Indian market. An Enterprise Investment Scheme, abbreviated as EIS is a tax relief scheme offered by UK government that allows investors to avail income tax relief for their investments into small companies based in the UK. Chair of the audit committee at Koovs and former partner at KPMG UK, Nina Amin will lead the investment committee f...

Tag: UK government

Satellite communication company OneWeb acquired by UK Government and India based Bharti Global

Unicorn India and Ascension Ventures Launch a Cross Border Fund