MyRepublic gets $16M shot in the arm to become Singapore’s 4th telco

The MyRepublic team

Singapore-based telco MyRepublic has secured funding to the tune of US$16 million (S$23 million), the company announced today. The funding comes from Brunei telco DST Communications, among others.

“We are convinced that this is an excellent opportunity to invest in MyRepublic, which is also in line with our future and active expansion plans,” Suhaimi Hussain, CEO of DST, said in a statement. “Working closely with MyRepublic grants us exposure to a different market environment and helps us achieve our developmental goals.”

MyRepublic is gunning to be the fourth telecommunications provider in Singapore, after SingTel, Starhub, and M1. It offers broadband internet services and is getting into mobile telephony. The company has been keen to offer 10GB mobile data bundles as standard. It’s also looking into unlimited data bundles, which have yet to become available in the island nation.

DST’s investment into MyRepublic is expected to help the upstart telco to push its Mobility Trial this October. The company is exploring small cell LTE technology, which doesn’t require the use of large base towers to work. Instead, it uses small LTE units that allow for better coverage in enclosed spaces and moving vehicles, according to MyRepublic. As these units have a much shorter reach than traditional base towers, however, the investment will have to be substantial to provide nation-wide coverage.

MyRepublic currently has a subscriber base of just under 40,000, which it says is triple the number of subscribers a year ago. The company has recently expanded to New Zealand, and is looking to enter more regional markets such as Australia, Indonesia, and Malaysia.

(This story has been updated for accuracy)