LONDON -- Hyperoptic (www.hyperoptic.com), the UK’s leading provider of fibre-to-the-home (FTTH) broadband technology, today announced that it has received an equity investment commitment of £50 million led by Quantum Strategic Partners Ltd (Quantum). Quantum is a private investment vehicle focused upon long duration investments and managed by Soros Fund Management LLC exclusively for the benefit of Mr. George Soros and Soros family clients.
The new funding will enable Hyperoptic to meet its ambitious plans to reach more than 500,000 homes with its market-leading 1 Gbps true fibre hyperfast broadband within the next five years.
In September 2011, Hyperoptic was the first to deliver a 1 Gbps symmetrical residential broadband service in the UK, 83 times faster than the current national average, and recently announced that it had surpassed 20,000 homes in London. The company now aims to bring its ground-breaking FTTH technology to as many as ten additional UK cities by the end of the year, with locations for these ‘hypercities’ to be prioritised based on consumer demand.
In addition, the company will soon be expanding to provide hyperfast broadband to business and commercial premises, as well as developing new products such as IPTV and cloud computing offerings for its consumer customers.
Hyperoptic was founded in 2010 by entrepreneurs Boris Ivanovic and Dana Tobak, who also successfully established a number of other pioneering and highly successful ISPs including Be (now part of BSkyB) in the UK and Bostream in Sweden.