MyRepublic raises $16m to pursue cellco ambition

Singapore ISP MyRepublic has completed an S$23 million ($16.1 million) funding round to help pursue its ambitions of becoming the market's fourth mobile operator.

The company announced that Brunei's largest telecom operator DST was a major investor in its latest funding round.

DST has previously provided MyRepublic with funds for a mobility trial in October involving the evaluation of advanced small cell LTE technology.

MyRepublic launched 1Gbps services in Singapore in 2014 and now has just under 40,000 subscribers. The company has set its sights on becoming Singapore's fourth mobile operator, and part of the proceeds from the capital raising will be put towards fulfilling this goal.

The new funding round follows a $30 million capital raising completed in July last year. The company has estimated that it will take around S$250 million to build a mobile network if it is granted a license.

Besides its Singapore operations, MyRepublic has launched services in New Zealand and Indonesia and plans to expand in markets including Malaysia and Australia.