Altnet, Netomnia plans to deploy multi-gigabit FTTP across the UK
UK altnet, Netomnia and ISP YouFibre, acquired new funding of €295m, led by DigitalBridge Investment Management. This investment will enable Netomnia to accelerate and scale its fibre deployment, in line with its project of 1 million homes by 2023. The companies have already handed over more than 130,000 buildings since the rollout began in 2020.
The partnership works with major UK contractors and has a scalable operating model that allows for rapid deployment. DigitalBridge joins existing shareholders of ESO Capital Partners, AdvenCap, Avenue Capital Group and Soho Square Capital, building on the $123m investment secured towards the end of 2021.
Jeremy Chelot, CEO of Netomnia, said: “We are delighted to be working with DigitalBridge and benefiting from their support and industry expertise as we work towards exceeding our goal of one million stores in the next two years. We are scaling rapidly and aim to play an active role in unlocking the UK’s digital potential, by delivering the benefits of multi-gigabit fibre broadband. Manjari Govada, Principal at DigitalBridge added,
“We have known Jeremy for several years and are excited to partner in the group’s scaling into a leading FTTP provider in the UK. We are very impressed with the growth of the company and the first-class team he has assembled.
