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Gigaclear has secured £30 million in funding to press ahead with its fibre-to-the-premises (FTTP) rollout plans in rural parts of the UK.

The broadband provider wants to make full-fibre, 1Gb connections available to thousands of homes and businesses in parts of the country not covered by commercial deployments.

Prudential has committed to invest up to £20 million in Gigaclear, through its infrastructure investment arm Infracapital.

In addition, Woodford Investment Management - an existing Gigaclear shareholder - is to make another £10 million available to support its network rollout plans.

The company has already built and operates 23 rural fibre networks across the UK, and it has 31 more in construction.

Around 1.5 million rural households and businesses across thousands of communities have access to Gigaclear's next-generation broadband infrastructure.

Ed Clarke, Co-Founder and Director of Infracapital, said the company is "delighted" to play a role in getting the UK connected.

"This is a unique opportunity to invest at an early stage in the development of high-speed communications infrastructure for the UK’s underserved rural population," he stated.

Matthew Hare, Chief Executive at Gigaclear, described the injection of finance as being "a major breakthrough" for the company.

"The divide between cut-off rural communities and connected towns and cities has never been greater, and we see [these] investments as a strong endorsement of our business plan to become the largest rural fibre-to-the-premises provider in the UK," he added.

Mr Hare said Gigaclear is bridging this divide by building ultra-fast, pure fibre networks.

"These investments give us the resources needed to accelerate our rollout over the next 24 months to many more communities," he added.

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