Gigaclear, an Abingdon UK-based broadband network, secured £111M in equity funding.
Existing shareholders Infracapital and Woodford Investment Management have committed to investing £60m and £15m respectively with other shareholders contributing a further £1m. RPMI Railpen, the investment manager for the Railways Pension Scheme, is the new institutional investor, committing £35m.
The company will use the funds to build new full fibre networks in rural Britain.
Founded in December 2010 and led by Matthew Hare, Chief Executive Officer, Gigaclear provides ultrafast broadband based on fibre to the home technology for rural communities to experience a significant improvement in communications, entertainment and business.