Australian ISP – Telecommunications infrastructure company GigaComm, which delivers buinesses and consumers access to ultra-fast internet, completes a further funding round of $20 million to support the “rapid expansion” of its telecommunications network.
Located in Melbourne, Gigacom intends to use the funds to “address the scale of opportunity in NSW and Victoria, with launches also imminent in Brisbane and Canberra,”
The company says it is continuing to see an increasing customer demand and by the end of 2022, it had expanded network coverage via fibre and wireless to over 300,000 premises across more than 100 suburbs in Sydney and Melbourne.
Gigacom provides wired and fixed-wireless connections with download speeds between 200 megabits and 1 gigabit per second, plus business plans that have 1 Gbps of symmetric bandwidth.
It also offers the latest advancement in copper-based broadband technology, G.Fast, which currently accounts for 60 per cent of GigaComm’s installations.
GigaComm Co-Founder and CEO Sophearom En said: “We are continuing to expand our network to meet the strong demand from consumers who want to access our services and address the increased enquiries from building representatives looking for the latest digital infrastructure.”
“Over the second half of 2022 the number of buildings that have GigaComm technology installed ongoing support from our shareholder base enables us to accelerate our network roll-out so that we can provide more residential and business customers with faster, better value internet.” he said.
GigaComm was founded in 2018 by former MacCap vice president Sophearom En and Peter Shore who was responsible for telcos and media coverage within Macquarie’s infrastructure funds management business in Europe last decade.
