Internet provider GigaComm which delivers network connection outside of NBN Co, has completed a further funding round that raised $20 million.
Melbourne based Gigacom intends to use the money to "address the scale of opportunity in NSW and Victoria, with launches also imminent in Brisbane and Canberra," the company said.
Existing investor Palisade Impact fully underwrote the latest fund raiser.
The company offers wired and fixed-wireless connections with download speeds of 200 megabit per second to 1 gigabit per second, and business plans with symmetric 1 Gbps bandwidth.
Currently, GigaComm claims to have network coverage via fibre and wireless to over 300,000 premises in over 100 suburbs in Melbourne and Sydney.
The company said it expects to have nearly 100 employees by the end of the calendar year and is planning to split its operations into wholesale and retail units.
GigaComm raised $20.5 million in a series B funding drive concluded in June last year.
The internet provider was founded in 2018 by Sophearom En, a former investment banker, aiming to provide fast internet service over a network independent of the NBN.
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
