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Massive funding won by SiFi Networks

Created on 20/05/2020 @ 09:29

A company established by two Welshpool men has won capital funding to accelerate the growth of fiber optic networks in towns across the USA.

SiFi Networks, an international fiber optic network developer, was launched by Mike Harris, previously of Total Network Solutions and now chairman of The New Saints FC along with Roland Pickstock of The Pickstock Group with the aim to revolutionise the North American telecoms market.

Now the company has announced that it has successfully secured significant capital which will allow it to meet the demand for high speed connectivity across the USA.

An initial investment of up to $50 million will enable SiFi to expand into more cities simultaneously through the recruitment and training of additional industry specialists and accelerate SiFi Networks’ FiberCity™ deployments.

A further support of up to $400 million will provide the project funding for the building of new fiber networks enabling future-proof connectivity and new digital services throughout several cities in the US.

The capital has been provided by the Smart City Infrastructure Fund, a global investment fund cornerstoned by APG, the largest pension delivery organization in the Netherlands, and managed by Whitehelm Capital.

“We are excited to have successfully secured this funding which will enable SiFi to capitalise on its position as one of the USA’s leading providers of privately funded open access, city-wide fiber networks delivering high speed broadband to homes and businesses,”said Mike Harris.

“This injection of capital will kick start the expansion of our business to meet the expected exponential growth in demand for high speed connectivity and enable city rights of way to be efficiently converted to project readiness.” 

SiFi funds, builds and owns FiberCity™ networks for use by Internet Service Providers, 4G/5G carriers and other service providers wishing to deliver ubiquitous high-speed broadband services to business and residential properties.

The networks offer the capacity to meet both current and future demand across whole cities without demographic segmentation.

SiFi is already installing a FiberCity™ network in Fullerton, California serving over 50,000 homes and businesses, is shortly commencing several other deployments in similar sized cities across the USA and will be working in over 20 cities within the next 12 months.

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