O3b Networks Limited, the broadband satellite venture led by SES and backed by Google, confirmed on Monday that it has finalized its $1.2 billion funding plan with the receipt of $230 million in new equity investment that will enable the venture to deploy its first satellite in 2013. The funding also includes $510 million of COFACE-backed debt. Representing the “other 3 billion” people throughout the world that lack broadband access, O3b also includes Liberty Global, Inc., North Bridge Venture Partners, Allen & Co., and HSBC Principal Investments among its backers. According to O3b CEO Mark Rigolle, additional funds contributed by the venture’s current shareholders “will see the company through to the launch of its first satellites, which will provide low-latency . . . Internet connectivity between developing markets and the global Internet infrastructure.” Rigolle also noted that his company has signed agreements, valued at between $500 million and $600 million, with various wireless carriers and other wholesale customers that will provide broadband connectivity via the O3b network to subscribers throughout the Middle East, Latin America, Asia and Africa. Thales Alenia Space is building a constellation of eight medium-orbit Ka-band satellites for O3b that will be positioned four times closer to the earth than regular geostationary satellites to cover “approximately 70% of the world’s population with fiber-quality Internet connectivity.” Arianespace is slated to launch the first of those satellites during the first half of 2013. Declaring that his company’s mission is “to organize the world’s information and make it universally accessible and useful,” a spokesman for Google proclaimed, “we are glad that O3b is now fully funded to build, launch, and operate its first satellites.”