Rural broadband provider Gigaclear has secured funding which it hopes will enable it to push ultrafast broadband into 6,000 new homes that previously lacked good connections.
The UK-based provider raised £6.5 million in funds from both existing and new institutional and private shareholders, allowing it to accelerate its already aggressive push to rival the likes of BT in delivering ultrafast fibre-to-the-premises (FTTP) networks to rural areas, offering speeds of up 1Gbps.
Gigaclear’s Chief Executive, Matthew Hare, said:
“With strong support from existing and new shareholders, we will meet the record demand we are seeing for our transformational broadband. Rural communities across the UK realise that they can leapfrog a whole generation of technology with a new, ultrafast, pure fibre network that can scale to thousands of megabits per second, future proofing the communities for many many years and allowing them, even today, to reap benefits not yet available to many towns and cities in the UK,”
The company currently owns and operates 17 rural networks across Oxfordshire, Kent and Rutland and is hard at work constructing 20 more up and down the country.
Gigaclear is one of a host of broadband providers currently working on improving the state of rural broadband up and down the country.
The company’s drive to connect 6,000 new customers comes hot on the heels of B4RN’s announcement that it has already reached 800 rural homes in the North of England with FTTP broadband, and plans to reach 1200 more by the end of the year. Urban FTTP peddlers Hyperoptic also announced that they had reached over 100,000 premises with their 1,000Mbps broadband.
Not to be outdone by comparatively small upstarts, Virgin Media has also announced that it’s to inject £3 billion into its cable network with a view to reaching 16 million new homes by 2020.