Be secures investment for high speed roll-out
It's for LLU
Be - the upstart broadband ISP that claims to offer punters speeds of up to 24 meg - has received financial backing to help fund the roll-out of its high speed internet service.
The cash, from an outfit called Novator Partners LLP, takes the total known investment in the company to £24.5m although this includes the cash stumped up by Be founders Boris Ivanovic and Dana Pressman.
Novator said it decided to invest in the business because it believes "there is strong demand in the UK broadband market for a 24 meg service".
So far, the ISP has installed its kit in 52 exchanges in London but is looking to expand the service to other densely populated parts of the UK.
With the funding in place Be is looking to unbundle more exchanges in London as well as expanding into Manchester and Birmingham.
Be claims that its LLU investment will enable almost half of the UK population to access its broadband service by the end of the year, although it's not clear whether any further investment will be needed to reach this target.
Earlier this month Be - which refuses to say how many punters it has - launched a pay-as-you-go service starting at £14 a month. ®