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Fibre broadband specialist Gigaclear is aiming to offer 1Gb services to 10,000 rural households and businesses by the end of the year.

The company has secured £7.75 million in funding from new and existing investors to continue its network rollout in the UK countryside.

Gigaclear currently owns and operates eight rural fibre networks across Oxfordshire and Rutland. It wants to increase this number to 25 nationwide by the end of the year.

Six more local fibre networks are already under construction in Kent and Oxfordshire, with further projects planned for Peterborough and Northamptonshire.

Matthew Hare, Chief Executive of Gigaclear, said he is "delighted" by the continued strong support shown by the company's shareholders, and the faith shown by institutional investors.

"The demand for better broadband from homes and businesses in rural communities continues to rise," he stated.

"With every network we build, Gigaclear is able to show beyond doubt that we can build, operate and monetise new fibre-to-the-premises (FTTP) networks that deliver real returns for their users and for our shareholders."

Mr Hare claimed the fresh funding would allow his company to "forge ahead" with its plans to bring reliable, ultra-fast and very cost-effective broadband to the "underserved and often forgotten rural communities across Britain".

Last month, Gigaclear announced plans to deploy "world-class" fibre broadband in eight villages near Peterborough.

Almost 1,500 properties in Ashton, Bainton, Barnack, Helpston, Marholme, Pilsgate, Tallington and Ufford will have access to 1Gb FTTP services.

Marco Cereste, Leader of Peterborough City Council, said Gigaclear's fibre broadband network will make life better for residents, and also help attract businesses to the area.

"This is another step in making Peterborough and the surrounding area amongst the best connected places in the world," he claimed.

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