Viasat and Space42 pledge up to $1 billion for new satellite-to-device network

Viasat and Space42 disclosed that they are forming Equit​ys, a direct-to-device satellite service backed by up to $1 billion in equity. Each company will put $400 million into the venture at the outset, and Space42 plans a further $200 million in a subsequent round. Viasat will serve as the primary technology contractor, delivering a non-terrestrial network that merges satellite and terrestrial links and works with standard smartphones and IoT gadgets.

The platform aims to let mobile operators provide voice, messaging and data where traditional cellular networks are absent or weak. By operating a shared satellite and ground infrastructure, Equit​ys hopes to lower costs, accelerate roll-out and broaden coverage without requiring separate hardware from each operator. Funding will combine founder equity, third-party equity and debt, building on studies that began in March 2025.