Kacific Broadband Satellites Pte Ltd, a Singapore-based satellite operator developing a broadband offering for the underserved Pacific market, raised $22.3m in Series A funding.
A United Kingdom-based family office with a particular focus on infrastructure investments made a $20m investment. In addition, terms for a further $2.3m have been agreed with two Australian private investors with experience in financial markets and in developing and commercializing new IT and telecommunications technologies.
The company intends to use the funds to bring high speed broadband satellite services to remote and isolated areas of the Pacific and South East Asia.
Led by founder and CEO Christian Patouraux, Kacific has agreements representing over US$260 million of pre-sales contracts for its high-throughput satellite (HTS) broadband internet service with governments, ISPs and telecom operators of eleven Asia-Pacific countries, including Indonesia. It aims to provide service to markets in South East Asia, New Zealand and the Pacific with its first satellite.