UK fibre-to-the-home specialist Hyperoptic has closed a large round of funding worth £50m ($75m) to roll out FTTH connections to as many as ten cities around the country by the end of the year.
Hyperoptic has already connected more than 20,000 homes in London to 1Gbps broadband, and is now aiming to connect more than half a million households nationwide within the next five years.
Boris Ivanovic, chairman and co-founder of Hyperoptic, said: “Today’s investment is a resounding vote of confidence in both our business model and the bright prospects for FTTH technology in the UK.
“As momentum continues to build for ‘smart cities’ and an increasingly technology-fuelled economy and society, the need to future proof our infrastructure has become absolutely critical and Hyperoptic will play a key role in doing just that.”
Hyperoptic is also reportedly planning to launch a number of other new services on its FTTH network in addition to super-fast broadband, such as IPTV and cloud computing.