Space42 and Viasat to Co-Found $1B ”Equatiss” Joint Venture for Direct-to-Device Satellite Infrastructure
UAE-based, AI-powered space technology firm Space42 and US satellite communications giant Viasat have signed a binding agreement to co-found Equatiss. Announced during World Space Business Week in Paris, the joint venture aims to build a global, neutral space and ground infrastructure platform supporting Direct-to-Device (D2D) and advanced Mobile Satellite Services (MSS). The foundational partners have committed up to $1 billion in joint initial capital to launch the venture.
Equatiss aims to bridge terrestrial network coverage gaps, enabling Mobile Network Operators (MNOs) to seamlessly deliver voice, text, and data services to standard smartphones and IoT devices in remote or coverage-limited areas.
Capital Commitments and Financing Structure
The joint venture is backed by a robust initial funding structure designed to accelerate the development of the primary satellite constellation:
Initial Capital Injection: Upon the formal establishment of Equatiss, Space42 and Viasat will each contribute $400 million (totaling $800 million).
Future Tranches: Space42 is committed to providing an additional $200 million during a future funding round, bringing total founder commitments to $1 billion.
Open Capital Model: Future funding rounds will be open to third-party strategic and financial investors. The venture will also utilize debt financing, aiming to deliver infrastructure-grade returns.
Upon finalization, the first batch of the scalable satellite constellation will be contracted out, with Viasat expected to be appointed as the primary technology contractor.
Operational Model: "The Tower Company of Space"
Equatiss pioneers a highly efficient operational paradigm modeled after the terrestrial telecom tower industry:
Shared Infrastructure: Rather than each operator building independent satellite networks, Equatiss offers a neutral, shared infrastructure. This drastically lowers capital expenditure requirements for participating MNOs while accelerating time-to-market.
Commercial Autonomy: Operators will retain their direct commercial relationships, customer bases, and proprietary spectrum rights while utilizing the Equatiss platform.
Massive Scalability: The initial constellation represents the first phase of a scalable architecture designed to accommodate up to 2,800 satellites across 60 orbital planes and three distinct altitudes, allowing the network to densify seamlessly as global demand grows.
The 3GPP NTN Advantage and Spectrum Depth
The joint venture capitalizes on the ratification of 3GPP Release 17 Non-Terrestrial Network (NTN) standards, which allow standard, unmodified smartphones and IoT devices to connect directly to satellites.
Global Reach: Combined, Space42 and Viasat hold commercial agreements with over 400 Mobile Network Operators globally.
Spectrum Assets: The partners possess over 100 MHz of globally harmonized MSS spectrum, providing the critical bandwidth necessary to support massive-scale D2D connectivity.
Market Projections: The founders project the global D2D market could generate between $30 billion and $70 billion by 2040, unlocking entirely new revenue streams for services previously unreachable by legacy satellite generations.
Executive Leadership and Strategic Vision
Ali Al Hashemi, CEO of Space Services at Space42, stated that the agreement marks the true launch of Equatiss, emphasizing that the JV is adapting the highly successful shared infrastructure model of mobile telecom to the space sector to serve "billions of devices rather than millions of subscribers."
Mark Dankberg, Chairman and CEO of Viasat, added that the partnership establishes a new asset class of global satellite infrastructure. He highlighted that the combination of deep spectrum assets, massive capital commitments, and a proven business model will accelerate space-based communication innovation and deliver reliable, interoperable connectivity globally.
Note: The establishment of Equatiss, final constellation procurement, and definitive agreements remain subject to customary closing conditions, regulatory approvals, and the final appointment of Viasat as the prime technology contractor.