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Gigaclear has announced £111 million is to be invested in rolling out fibre technology in rural locations.

According to the company, additional equity funding will be used to create full fibre networks outside major towns and cities.

Matthew Hare, Chief Executive of Gigaclear, commented: "This latest round of investment will enable Gigaclear to step up our speed of network delivery and is a clear signal of the confidence investors have in our continued expansion and success."

He stated that Gigaclear's pure fibre network will transform lives by providing access to the fastest internet speeds to be found anywhere in the world.

Furthermore, he said the investment will "technologically future-proof" these rural communities for many years to come.

"Millions of rural homes and businesses across the country need better broadband and we want to reach as many of those in rural areas as quickly as possible," Mr Hare continued.

He added that a full fibre connection will make a big difference to rural families and businesses, as they deserve "not to be left in the slow lane".

This comes shortly after Gigaclear revealed that 10,000 customers are now signed up to its Gigabit Fibre-to-the-Premise (FTTP/H) service.

The rural fibre broadband provider's network offers speeds of around 1,000Mbps and is available to more than 42,000 homes in rural locations throughout the UK.

Gigaclear's recent growth has already prompted the company to expand its Oxfordshire-based headquarters.

Work on the revamped premises at Abingdon Business Park has now concluded, making an extra 5,907 square feet of office space available.

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