Singapore-based internet services provider MyRepublic has raised $16m from investors including telecoms firm DST Communications, Tech in Asia reported today.
Several undisclosed investors also participated in the funding round, which will support MyRepublic’s aim of becoming the country’s fourth telecommunications service provider after SingTel, Starhub and M1.
Currently, the company offers broadband internet access and has launched mobile data plans with a 10 gigabyte cap as standard.
The investment will support the creation of a small cell LTE network, which works without the need for large base towers. The technology enables better coverage particularly indoors and in moving vehicles, but has a much shorter range than traditionally used base towers.
MyRepublic has already expanded into New Zealand, and plans on using part of the capital to also enter Australia, Indonesia and Malaysia.
Telecoms firm Sunshine Network, a subsidiary of conglomerate Sinar Mas, led a S$30m ($24m) round in July 2014. Xavier Niel, founder of telecoms firm Free, also contributed funds to that round.
Energy company Dian Swastatika Sentosa, also a subsidiary of Sinar Mas, previously injected $3.5m in May 2014.