The Federal Communications Commission said SpaceX had failed to show it could meet requirements for unlocking the funds. The funds aim to incentivize expanding broadband services to unserved areas across the United States. “We cannot afford to subsidize ventures that are not delivering the promised speeds or are not likely to meet program requirements”

Ookla raised $250 million in an equity round from undisclosed investors in July. Total funding raised so far this year is a reported $2 billion, Ookla says. The company has raised more than $1 billion this year, it says. Ooklas says it has raised $1.2 billion so far in 2014.
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