After years of intensive development and highly successful recent trials with one of the largest Telco's in the USA, Genesis Technical Systems is poised to move into commercial sales, forecasting revenue of £7m next year, growing considerably as the take-up for its products gains traction.
To fund this commercial deployment, the company has embarked on a £3m raise, of which £2.9m has been raised, including £1m from Harwell Capital.
The opportunity exists for Shadow Foundr investors to take up the last portion of this £3m, prior to the round closing at the end of August.
Genesis’ award-winning and patented technology, DSL Rings®, has been developed to comply with a Telco’s existing infrastructure, allowing telecom carriers to deliver up to 20x faster broadband to consumers' homes, over existing network infrastructures.
It is very easy to deploy, affordable and highly profitable for Telcos, as it avoids the huge up-front costs of providing fibre to people's homes; and cuts the years necessary for Telcos to realise a return on investment, down from 25 to less than two.
Why is this important?
Internet service providers today face the huge challenge of delivering more, for less. With growth in video streaming, internet gaming and the proliferation of smart devices, demand for broadband is predicted to double by 2021. The need to get the most out of existing networks is vital.
Utilising its ground-breaking technology, Genesis meets this challenge by delivering much faster broadband further, at low capital cost for carriers.
Governments around the world, including in the UK, are legislating that fast broadband should be a universal right. Telecoms operators are under pressure to address under-served areas and seek alternative solutions when fibre to the home is not feasible.
Consequently, vast amounts of government funding around the world is being devoted to improving broadband performance in under-serviced areas.
USD $20 Billion has been allocated in the US alone, through the Connect America Fund (CAF), which will ultimately be funnelled down to companies such as Genesis.
Boasting an impressive management team, which between them have built and exited several large companies, Genesis has 27 patents and more than 50 others pending.
It has begun and completed trials with several of the world’s largest Telcos, across the UK and North America, and has recently received its first purchase order.
With the company transitioning into sales mode before gearing towards an exit, just a handful of shares remain available.