If you’re struggling with sluggish download speeds, there is some good news. While BT, Sky, and Virgin Media are slowly rolling out next-generation fiber optic broadband connections nationwide, these aren’t always the cheapest options – especially if you want speeds close to a gigabit.
Broadband company Trooli is building its own broadband network to challenge companies like BT’s Virgin Media and Openreach, which is used by Sky, BT, Vodafone, EE and others. In its most recent round of funding, Trooli raised £ 67.5m to help drive expansion in rural and semi-rural communities.
The new funds will allow the company to expand to 400,000 new premises in 300 towns and villages, according to Trooli. Trooli today provides gigabit-enabled broadband to more than 100,000 locations, rising to 170,000 by the end of 2021, to 400,000 by the start of the New Year’s Eve countdown next year, and to one million by 2024.
This extensive broadband expansion will create around 200 new jobs, Trooli confirmed. The latest round of funding was secured due to the increasing demand for faster fiber broadband – especially in rural areas underserved by faster broadband connections – as millions continue to work from home.
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The company, which has a growing customer base in Kent, East Sussex and Berkshire, has just started operations in East Anglia, where its network will open this fall. Trooli’s future-proof full fiber infrastructure enables speeds 13 times faster than average UK download speeds, while Trooli’s service provides a full fiber link direct to the customer’s property with guaranteed speeds of 300, 500 or 900 Mbps leads, depending on the selected product.
Ashley Atkins, CFO of the Kent-based company, said, “We are committed to expanding our network and meeting the need for really fast, reliable internet connections, especially in underserved rural areas. Securing this level of funding not only underpins our ambitious growth plans, but is also a vote of confidence in Trooli as a company and the product we offer.
“The demand for our all-glass broadband was extremely strong last year and we assume that this will continue in the future. Despite a small, targeted process, the offer was oversubscribed several times. This new investment clearly shows that the banking community shares our vision. “
Trooli is one of several new entrants challenging well-known brands like BT, Virgin Media, Vodafone and Sky. It remains to be seen whether these companies can connect customers to next-generation cables faster than Openreach can replace aging copper cables with full fiber.
