Home
 » ISP News » 
Sponsored

Toob Gets GBP87.5m Funding to Boost UK FTTP Broadband Rollout

Wednesday, December 22nd, 2021 (7:00 am) - Score 3,072
toob-engineer-and-van

New ISP toob, which is busy building a Fibre-to-the-Premises (FTTP) broadband network across parts of England, has today secured “up to” £87.5m of new funding from the Sequoia Economic Infrastructure Income Fund and accelerated their target to reach 1 million UK premises by 2027 (previously it was 2031).

At present the operator, which was originally backed by an initial investment of £75m from funds advised by the Amber Infrastructure Group (here), is building FTTP across the Hampshire city of Southampton (costing c.£50m to cover 100,000 premises by the end of 2022) and nearby towns of Aldershot, Eastleigh and Chandler’s Ford. Not to mention the Surrey towns of Camberley and Frimley. On top of that they’re also building across Ash, Green, Guildford, Mytchett, West Byfleet and Woking (here).

NOTE: Toob’s new network is harnessing kit from ADTRAN (TA5000).

The good news today is that toob has just secured another major funding boost, worth “up to£87.5 million, from the Sequoia Economic Infrastructure Income Fund (the ISP was advised by Jefferies in this capital raise). The new deal appears to have accelerated their rollout plans and moved their coverage target for 1 million premises passed (in the South of England) forward, from 2031 to 2027.

The Sequoia fund is a familiar one on these pages because they recently injected £60m into another alternative full fibre network provider, LightSpeed Broadband, which is busy building somewhat further north of toob’s patch (here). No doubt Sequoia will be keen for both builds to remain complementary, focusing on different counties etc.

Toob’s CEO, Nick Parbutt, said:

“It is with great pleasure that we can announce we have secured this investment which will help accelerate our network deployment into 2022 and beyond. With this investment in place we will expand into more towns across the South of England, bringing the benefits of full-fibre broadband to more families, businesses and communities.”

Charles-Olivier Douala, VP at Sequoia, added:

“We are delighted to provide this facility to toob, which will be used to connect towns across the South of England to full-fibre broadband and improve their access to reliable and fast internet which will be critical for both households and businesses going forward.”

The news comes shortly after toob became the subject of much takeover speculation, thanks to CityFibre (here), and today’s news is unlikely to dampen that. Customers of the service typically pay just £25 per month for the first 18-months of service (£29 thereafter) to get an unlimited 900Mbps (symmetric) broadband package with an included wireless router, which comes with free installation.

Leave a Comment
0 Responses

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comments RSS Feed

Javascript must be enabled to post (most browsers do this automatically)

Privacy Notice: Please note that news comments are anonymous, which means that we do NOT require you to enter any real personal details to post a message. By clicking to submit a post you agree to storing your comment content, display name, IP, email and / or website details in our database, for as long as the post remains live.

Only the submitted name and comment will be displayed in public, while the rest will be kept private (we will never share this outside of ISPreview, regardless of whether the data is real or fake). This comment system uses submitted IP, email and website address data to spot abuse and spammers. All data is transferred via an encrypted (https secure) session.

NOTE 1: Sometimes your comment might not appear immediately due to site cache (this is cleared every few hours) or it may be caught by automated moderation / anti-spam.

NOTE 2: Comments that break our rules, spam, troll or post via known fake IP/proxy servers may be blocked or removed.
Cheapest Ultrafast ISPs
  • Gigaclear £17.00
    Speed: 200Mbps, Unlimited
    Gift: None
  • Community Fibre £20.00
    Speed: 150Mbps, Unlimited
    Gift: None
  • Virgin Media £24.00
    Speed: 108Mbps, Unlimited
    Gift: None
  • Vodafone £25.00
    Speed: 100Mbps, Unlimited
    Gift: None
  • Hyperoptic £25.00
    Speed: 150Mbps, Unlimited
    Gift: None
Large Availability | View All
Cheapest Superfast ISPs
  • Hyperoptic £17.99
    Speed 30Mbps, Unlimited
    Gift: None
  • Virgin Media £20.00
    Speed 54Mbps, Unlimited
    Gift: None
  • NOW £21.00
    Speed 36Mbps, Unlimited
    Gift: None
  • Shell Energy £21.99
    Speed 35Mbps, Unlimited
    Gift: None
  • Vodafone £22.00
    Speed 38Mbps, Unlimited
    Gift: None
Large Availability | View All
The Top 20 Category Tags
  1. FTTP (4030)
  2. BT (3135)
  3. Politics (2089)
  4. Building Digital UK (2009)
  5. Openreach (1951)
  6. FTTC (1917)
  7. Business (1811)
  8. Mobile Broadband (1590)
  9. Statistics (1493)
  10. FTTH (1370)
  11. 4G (1361)
  12. Virgin Media (1266)
  13. Ofcom Regulation (1230)
  14. Wireless Internet (1224)
  15. Fibre Optic (1223)
  16. Vodafone (920)
  17. EE (900)
  18. 5G (878)
  19. TalkTalk (817)
  20. Sky Broadband (782)
Promotion
Helpful ISP Guides and Tips
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
»
Sponsored

Copyright © 1999 to Present - ISPreview.co.uk - All Rights Reserved - Terms , Privacy and Cookie Policy , Links , Website Rules , Contact