British Internet service provider Be reportedly has secured financing for the rollout of its next-generation broadband network.
A report in ZDNet.uk Thursday said Be had raised 24.5 million pounds ($43.6 million) to bankroll an ADSL2-plus broadband system capable of 24 megabits per second, about three times current ADSL speeds.
Be's goal is to be the first British ISP to launch the 24MBps service and hopes to reach about half of the population by the end of the year.
A partner at the venture-capital firm Novator told ZDNet that his company chipped in on the financing because it believes there will be a strong demand for the new high-speed service.
The next step calls for Be to expand its current service in the London area and install equipment in Manchester and Birmingham.
Copyright 2006 by United Press International
Explore further: Architects to hatch Ecocapsule as low-energy house