Additional US$2.3 million will be raised from Australian tech investors

SINGAPORE, April 5 (Bernama-BUSINESS WIRE) -- Kacific Broadband Satellites has agreed terms on funding of US$20 million from a United Kingdom-based family office with a particular focus on infrastructure investments. Arranged by Kacific’s advisor, Caniwi Capital, the placement is part of Kacific’s Series A round of capital raising, and is a major step for the company towards the financial close of its project, which will bring high speed broadband satellite services to remote and isolated areas of the Pacific and South East Asia.
 
The family office, which does not wish to be identified, made the decision to invest after following Kacific’s accelerating progress in signing agreements for satellite broadband provision.
 
Terms for a further US$2.3 million have been agreed with two Australian private investors with experience in financial markets and in developing and commercialising new IT and telecommunications technologies.
 
Kacific now has agreements representing over US$260 million of pre-sales contracts for its high-throughput satellite (HTS) broadband internet service with governments, ISPs and telecom operators of eleven Asia-Pacific countries, including Indonesia. It aims to provide service to markets in South East Asia, New Zealand and the Pacific with its first satellite.
 
Kacific founder and CEO, Christian Patouraux, said: “We are delighted with this vote of confidence from seasoned professional investors and IT and telecommunications veterans who have reviewed our business model and noted our recent accomplishments. These investments will, we believe, encourage further take-up of our service in our target markets.”
 
About Kacific
 
Kacific Broadband Satellites Pte Ltd is a satellite operator developing a broadband offering for the underserved Pacific market. It plans to address the gap in supply with a satellite specifically designed for this market and using the latest multi-beam and high throughput space communications technology transmitting over the Ka Band.
 
Contacts
Kacific Broadband Satellite
Christian Patouraux, +65 9 800 0310
CEO
chris@kacific.com
or
Botica Butler Raudon Partners
Allan Botica, +64 21 400 500
allanb@botica.co.nz

Source: Kacific Broadband Satellites Pte Ltd
 
View this news release online at:
http://www.businesswire.com/news/home/20160404005432/en
 
--BERNAMA