Genesis Technical Systems, the latest campaign to go live on Shadow Foundr’s investment platform, has caught the eye of investors, with pledges totalling more than £60k made in the first week following the pitch event to launch the campaign.
A full house was enthralled by Genesis’ progress and patented technology, which allows telecom carriers to deliver fixed broadband services 20x faster than they currently are, over existing network infrastructures.
As our social and economic lives become increasingly digital, reliable and rapid access to the internet and its wealth of content is essential. Broadband is no longer a luxury, but a fundamental need.
Genesis’ award-winning technology, DSL Rings®, is designed and developed to comply with a telco’s existing infrastructure. 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 to realise a return on investment down from 25 to less than two.
Already backed by Harwell Capital and Midven, Genesis has given Shadow Foundr the opportunity for investors to fill the remaining £250k of their current £3m funding round.
A joint UK/Canadian company, Genesis has 27 patents and more than 50 others pending; it has begun trials with several of the world’s largest telcos, across the UK and North America. Crucially, in the UK, Genesis has successfully passed BT’s MCT compliance, achieving SIN 498 approval, thereby paving the way for further orders.
The company is forecasting revenue of £7m next year, growing considerably as the take-up for its products gains traction, following further field trials this year.
One of the major reasons for their bullish revenue forecasts, is because of the vast amounts of funding governments around the world are devoting to improving broadband performance in under-serviced areas. $20bn has been allocated in the US alone, through the Connect America Fund (CAF), which will ultimately be funnelled down to companies such as Genesis.
Another reason is the traction the company already has with some of the world’s largest telcos.
You can learn more about Genesis and its game-changing technology, by watching the short video here.