Around 30% of households in big cities have fiber-optic lines flowing through them, yet many people are still using dial-up connections. That’s the craziest thing. More individuals will have access to high-speed internet via Flume Internet, thanks to its partnership with the New York Housing Authority, which has previously been a low priority for telecoms.
Using infrastructure partners and asset owners, the business hopes to expand into more than 20 new regions over the next several years using its asset-light strategy. Its goal is to improve neighbourhood connectivity, which is a major element of what it does. Hundreds of households in New York City’s Housing Authority (NYCHA) are linked to Flume under the government’s Affordable Connectivity Program. As a result of the epidemic, the firm has witnessed significant expansion as communities and residential building owners seek for lower-cost, higher-speed choices. The majority of their goal is to provide fibre to the remaining 60% of homes in the nation in a carrier-neutral way, which is an important component of their vision.
9 percent of houses have the option of real fibre to the home, which means that the whole network between your home and the provider’s data centre is fibre.
Using a single rack of data centre capacity, Flume is able to service tens of thousands of gigabit users. In places around the United States, this technology is being utilised to map out and power internet over underused or “black” fibre connections in order to deliver home broadband alternatives to residents and apartment complexes for a fraction of the price. Approximately 10-15 unused fibres per residential building, according to the business, are available in most areas. One of its goals is to become America’s biggest fiber-optic Internet Service Provider (ISP) that doesn’t acquire or resell last-mile traffic from customers to the data centre.
In December, Flume announced a 3.5 million investment round, but chose to make the announcement now. Co-led by Amplo and Hyperplane.vc, the Citi Impact Fund and the New York-based fund, The Fund New York participated in the round.
There are now thousands of people who have access to the company’s service, and its goal is to reach 20,000+ houses by the end of this year.