Be, the ultra fast 24 meg broadband ISP, has secured over £24 million, the full funding needed for their national ADSL2+ rollout to begin later this month.
With £24.5 million of funding in place, Be will start their national roll-out and build on the 52 exchanges that have been provisioned in London already. Together with further expansion in London, Manchester and Birmingham will be the first other cities to benefit from the roll-out which will aim to cover almost half of the population by the end of 2006.
Boris Ivanovic, Be Director said,
"The investment enables us to deliver the fastest broadband available in the UK to an even larger number of consumers. Having already pushed broadband technology to the limits we are now better placed than ever to make the UK a world leader in broadband, and for us to continue to lead the market."
Co-founders Boris Ivanovic and Dana Pressman provided the initial funding, with the remaining amount invested by the Novator One investment fund. Bruce McInroy and Constantine Gonticas from Novator Partners LLP the investment manager of Novator One will be joining the Be Un Limited board.
Bruce McInroy, Telecom Investments Partner, from Novator said,
"We believe there is strong demand in the UK broadband market for a 24 meg service. We chose to back a management team with a proven track record of successful delivery of highspeed services to customers."
Be are pushing the boundaries of broadband in the UK and leaving the rest of the market behind with aggressive plans to make ADSL2+ a mass market product. Be started the New Year by launching, Be lite, a pay-as-you-go service aimed at light home users.
Be's 24 meg service represents an exponential leap for Internet users. Just one of their 24 meg broadband lines can stream two High Definition TV (HDTV) channels, plus three or four standard TV or Video-on-Demand channels, and still have enough bandwidth for general surfing or voice calls (VoIP). The ‘Be Box' router supplied free to all members enables them to go wireless from anywhere at home and the connection is fast enough to be shared by everyone in their household.
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