Regional broadband services newcomer LiveOak Fiber says it has received $150 million in initial funding from InfraRed Capital Partners. The money will be spent on the construction of fiber to the premises (FTTP) infrastructure in Glynn County, GA, and Okaloosa County, FL, which the company describes as traditionally underserved markets.
FTTP network construction will begin in the third quarter of this year with a goal of initiating services in the first quarter of 2023. LiveOak Fiber says it plans to deliver internet services up to 10 Gbps as well as a suite of business-specific offerings.
The funding is meant to get LiveOak Fiber off the ground; InfraRed “expects the investment opportunity to grow over time as the network expands,” according to a press release.
“These initial deployments are in underserved areas that lack the critical connectivity needed to foster both a growing population and attract new businesses,” said Jody Craft, president of LiveOak Fiber. “Constructing and providing fiber-based broadband to these counties in Georgia and Florida will enable a rich suite of modern communication services for the residents and businesses.”
“InfraRed is proud to partner with LiveOak Fiber, a remarkable team that is committed to providing communities with necessary digital infrastructure and internet services, designed to enable social and economic growth,” says Jack Paris, head of Americas at InfraRed Capital Partners. “InfraRed continues to grow its presence in the U.S. market by making value-accretive investments in target sectors, funding and developing critical digital infrastructure that connects communities.”
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