CNET reports that SpaceX will be working alongside Google and Fidelity Investments after it had received a whopping $1billion funding from the two companies. The two investors will own around 10 percent of the company. Space Exploration Technologies or SpaceX confirmed that the funding from the partnership will be used to support several projects like continued innovation in the areas of space transport, reusability, and satellite manufacturing.

A few days ago, Forbes reported that Google was planning to invest in Elon Musk’s vision for satellite Internet which will provide high-speed connection to more people across the globe. The CEO of SpaceX revealed its $10 billion plan to build and launch a constellation of Wi-Fi-beaming satellites in the coming years. The giant search company was heard of investing into the said aggressive project.

The main man of SpaceX has described the potential project as having a network of communication satellites in low Earth orbit which are positioned much closer to the planet compared to the geosynchronous satellites typically used for communication.

The project will use lasers to send signals from satellite to satellite which would allow data transmission much faster than ground-based networks. However, some say that laser transmissions from satellites are not reliable at all times because of certain factors such as bad weather.

Google has been pushing various experiments on discovering ways of making the Internet better and accessible in more places. Its Google Fiber project has seen some success since its launch in 2012.

The tech giant has also acquired Skybox Imaging for roughly about $500 million. The company manufactures small yet high-resolution imaging satellites. In 2013, it launched an experimental network called Project Loon, made up of large solar-powered balloons that floated above New Zealand, allowing users on the ground to connect to a wireless internet network.

Meanwhile, SpaceX might get into a major competition with OneWeb which was also reported to be in talks with Virgin and Qualcomm. The collaboration among the two companies and OneWeb targets to build, launch and operate 648 “low-Earth-orbit satellites” which also plan to deliver Internet access to certain parts of the world.

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