& cplSiteName &

Gigaclear Secures Funding for Rural FTTH Rollout

Light Reading
News Wire Feed
Light Reading
7/4/2014
50%
50%

OXFORDSHIRE -- Gigaclear (the “Company”), the UK’s leading provider of fibre networks to rural communities, is pleased to confirm the successful completion of a new round of equity financing. The funds, totalling £7.75m have been raised from both new and existing private investors in addition to Gigaclear’s first institutional investor: the CF Woodford Equity Income Fund, managed by high-profile fund manager Neil Woodford.

Gigaclear is a provider of ultrafast pure fibre broadband, focused solely on bringing high-quality, dependable broadband connectivity to the UK’s rural communities. Offering speeds up to a symmetric 1Gbps (1000Mbps), Gigaclear currently owns and operates eight rural fibre networks across Oxfordshire and Rutland. The Company has the ambition to own and operate 25 networks by the end of the year, of which six more are already under construction in Kent and Oxfordshire. Gigaclear has recently announced plans to construct further superfast networks across Peterborough and Northamptonshire.

Gigaclear is already part way through the construction of new networks in Oxfordshire and Kent which, once complete, will mean 5,000 rural homes and businesses across Britain will be benefitting from ultrafast broadband: many of which were unable to receive broadband of any kind before Gigaclear’s arrival in their village or town. The additional £7.75m funding confirmed today will enable Gigaclear to commence the roll-out of several additional new networks, increasing its market lead and bringing the target of serving 10,000 homes and businesses by the year end ever closer. Today’s funding has been secured from both new and existing shareholders via two separate funding rounds. The Company first raised over £2.75m in April this year via an Enterprise Investment Scheme (“EIS”), raising more than double its original minimum target.

Shortly after the close of this EIS round, the company agreed in May to an additional investment of £5.0m from the CF Woodford Equity Income Fund, managed by high-profile fund manager Neil Woodford, which was launched on 19 June. Taken together, these two funding rounds transform Gigaclear from a firm backed solely by a small number of private individuals in to one backed by over 70 committed private and institutional shareholders.

Gigaclear

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
From The Founder
Light Reading is spending much of this year digging into the details of how automation technology will impact the comms market, but let's take a moment to also look at how automation is set to overturn the current world order by the middle of the century.
Flash Poll
Upcoming Live Events
November 1, 2017, The Royal Garden Hotel
November 1, 2017, The Montcalm Marble Arch
November 2, 2017, 8 Northumberland Avenue, London, UK
November 2, 2017, 8 Northumberland Avenue – London
November 10, 2017, The Westin Times Square, New York, NY
November 16, 2017, ExCel Centre, London
November 30, 2017, The Westin Times Square
May 14-17, 2018, Austin Convention Center
All Upcoming Live Events
Infographics
With the mobile ecosystem becoming increasingly vulnerable to security threats, AdaptiveMobile has laid out some of the key considerations for the wireless community.
Hot Topics
Muni Policies Stymie Edge Computing
Carol Wilson, Editor-at-large, 10/17/2017
Is US Lurching Back to Monopoly Status?
Carol Wilson, Editor-at-large, 10/16/2017
'Brutal' Automation & the Looming Workforce Cull
Iain Morris, News Editor, 10/18/2017
Pai's FCC Raises Alarms at Competitive Carriers
Carol Wilson, Editor-at-large, 10/16/2017
Worried About Bandwidth for 4K? Here Comes 8K!
Aditya Kishore, Practice Leader, Video Transformation, Telco Transformation, 10/17/2017
Animals with Phones
Selfie Game Strong Click Here
Latest Comment
Live Digital Audio

Understanding the full experience of women in technology requires starting at the collegiate level (or sooner) and studying the technologies women are involved with, company cultures they're part of and personal experiences of individuals.

During this WiC radio show, we will talk with Nicole Engelbert, the director of Research & Analysis for Ovum Technology and a 23-year telecom industry veteran, about her experiences and perspectives on women in tech. Engelbert covers infrastructure, applications and industries for Ovum, but she is also involved in the research firm's higher education team and has helped colleges and universities globally leverage technology as a strategy for improving recruitment, retention and graduation performance.

She will share her unique insight into the collegiate level, where women pursuing engineering and STEM-related degrees is dwindling. Engelbert will also reveal new, original Ovum research on the topics of artificial intelligence, the Internet of Things, security and augmented reality, as well as discuss what each of those technologies might mean for women in our field. As always, we'll also leave plenty of time to answer all your questions live on the air and chat board.

Like Us on Facebook
Twitter Feed
Partner Perspectives - content from our sponsors
The Mobile Broadband Road Ahead
By Kevin Taylor, for Huawei
All Partner Perspectives