FibreconX gets Forrest-backed group funding boost

FibreconX gets Forrest-backed group funding boost

Coincides with plans to expand into Melbourne and Brisbane by 2022.

Mark Rafferty (FibreconX)

Mark Rafferty (FibreconX)

Credit: FibreconX

Sydney-based dark fibre provider FibreconX has received a funding boost from private investment group Tattarang as it plans to expand its network into other states.

Tattarang, previously known as Minderoo Group, claims to be one of Australia’s largest private investment groups and is headed up by Fortescue Metals Group founder and chairman Andrew Forrest and his wife, Nicola Forrest. 

Meanwhile, dark fibre specialist FibreconX opened its doors in 2019 and claims to be the first telecommunications company to build a dedicated duct and dark fibre network that reaches all major data centres in Sydney.

FibreconX CEO Mark Rafferty said the investment coincides with the company’s next phase of growth into Melbourne and Brisbane, which is expected to take place next year.

“We are excited to be delivering this infrastructure and fibre services to the market where there has been a lack of specialisation and availability for our partners,” he said.

“We believe Australian cities can be the centres of tomorrow’s global digital economy and we are proud to be leading the delivery of the critical building blocks that will create this future.

“By providing high-capacity, data centred dedicated dark fibre services at a leading price point, we are enabling our partners and multinational technology companies to deliver higher quality services to customers and assisting them meet the rapidly increased data demands of our regions.”

John Hartman, Tattarang chief investment officer, said the provider is expected to meet future demand for high-capacity fibre with its planned dedicated dark fibre network expansion.

“Fibre infrastructure is a key driver for the continued digitisation of the Australian economy and we believe FibreconX is ideally positioned to capitalise on growing demand for reliable, flexible and secure data and connection services in Australia,” he added.

This is the latest example of Tattarang backing a a telco, with Western Australian fixed wireless and National Broadband Network (NBN) provider NodeOne previously receiving funding from the group in July 2020.

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