21Net backed by Octopus
Broadband on high speed trains to be rolled-out across Europe following latest deal
21Net which provides internet broadband services for use on high speed trains has gained £220,000 of funding.
Founded in 2001, 21Net, a European Space Agency sponsored company, became the first operator to technically demonstrate successful delivery of internet broadband on high speed trains through the use of bi-directional satellite connectivity in 2004. Since then, the company has been working closely with leading railway operators on the development, testing and delivery of its unique broadband system and now could be on the verge of rolling it out across Europe. Henry Hyde-Thompson, founder of 21Net, said: “We are extremely grateful to Octopus Ventures for its continued support. “Over the past few years, the advice and skills we have been able to access through its investor group have proved invaluable and undoubtedly accelerated the progress we have made with the commercialisation of our product. “We are really looking forward to building on the success we have enjoyed to date and will be continuing to draw on Octopus’ substantial expertise as we enter the next phase of our European rollout strategy.” The latest funding represents a total commitment of £1.5m made by Octopus Ventures to date. © Crimson Business Ltd. 2008