Gigaclear raises £6.5m to deploy rural broadband in UK
There’s more good news for UK residents (see Virgin story), especially those living in rural locations. Private broadband operator Gigaclear has announced the successful completion of a new round of equity financing, worth £6.5m. Gigaclear was established in 2010 by its chief executive Matthew Hare to build and operate ultrafast (up to 1Gbit/s) symmetrical FTTP broadband networks in rural communities.
The Company currently owns and operates 17 rural fibre networks across the counties of Oxfordshire, Kent and tiny Rutland, and has 20 more under construction that will extend its coverage to Northamptonshire and Cambridgeshire. It says it also has a pipeline of “several hundred” rural communities looking for ultrafast and reliable 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 years and allowing them, even today, to reap benefits not yet available to many towns and cities in the UK,” said Gigaclear CEO Matthew Hare. “We are already putting this new investment to work, building new networks and serving thousands of homes and businesses.”
The new funding should allow the company to reach an additional 6,000 homes and businesses.