Broadband News

Gigaclear secures extra £111m of funding for full fibre

Gigaclear is the good news broadband story this week and with £111 million of additional funding to allow the Fibre to the Premises to continue expanding its network it should be no suprise that that Matthew Hare is looking very pleased in the press release.

The £111m is equity funding with £60m from Infracapital and Woodford (£15m) who have previously invested in Gigaclear, other shareholders adding another £15m and a new investor putting in £35m. The new investor is RPMI Railpen who manages the Railways Pension Scheme.

The new funding should mean that Gigaclear can add another another 120,000 to 150,000 premises passed to its existing footprint. As things stand today we believe the network passes some 30,000 premises (~0.1 UK premises) and with the recent celebrations of the 10,000th customer we know that take-up is running at around 33%. The footprint looks much larger as by concentrating on a rural roll-out the number of premises per postcode is generally a lot lower than urban residential areas.

Map of Gigaclear FTTP areas
Click to view larger version

Where Gigaclear is offering FTTP or building

If you follow Gigaclear news stories then comments will often mention that there is no provider choice, but the service is available on a wholesale basis and includes names like Exa Networks and RM Education. Another common mention is the cost of installing from the fibre pot to the home and if you are happy routing the fibre yourself from the boundary pot to inside your home this is covered by the £100 activation fee (range of pre-made fibre cables from 10m to 50m available for free) for those wanting a professional to do the work then cost is an additional £129 for routes of 10m or less, 10 to 35m £199.99 and 35 to 100 metres is £299.99. Longer distances are evaluated on an individual basis (10m for those who cannot easily visualise is the length of two Ford Focus cars with space to walk between them). For those upgrading from a world of free connections and paying just £20 per month for broadband the setup outlay may be significant and we hope that as Gigaclear expands that they will add more options for spreading the cost over 12 or 24 months. In areas which are part of the BDUK projects there are sometimes varying prices depending on the conditions of the contract.

Comments

Dosen't matter how much they get if they won't or aren't interested in coming to other areas.

  • ZenUser27
  • 6 months ago

@ZenUser27 - Huh ?? Press release is pretty clear - "We are pleased to announce £111 million in additional equity funding to build new full fibre networks in rural Britain.". That's the market they're addressing (hardly surprising given their pedigree). Hyperoptic address another market for FTTP (multi-occupancy buildings, mostly). Spreading into other segments willy-nilly would, for either operator, be commercial suicide. To the detriment of their existing users.

  • mpellatt
  • 6 months ago

We would love another big company in Greater London...

Sure, its great to see the progress, BUT we REALLY NEED a good map of coverage! (I mean one that you do have to spend ages researching!)

  • comnut
  • 6 months ago

@thinkbroadband where is that map you've got the screenshot from? Can't find on your site at all.

  • @lucifa42
  • comment via twitter
  • 6 months ago

yes, that map looks good, ISP selectors! :-):-)

  • comnut
  • 5 months ago

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