Google Fiber is about to get a lot more than just a start-ups capital infusion.
The company, which announced its acquisition of the fiber optic start-uppliance provider in August, has raised $25 million from a group of venture capital firms including Greylock Partners, Kleiner Perkins Caufield & Washington and others.
The financing, which includes a $2 million contribution from Kleiner, comes after Google Fiber announced last month that it was raising another $2.5 million in venture capital from the venture capital arm of Kleiner.
Google Fiber has already raised a whopping $75 million in seed funding from venture capital, according to the company.
In total, the company has raised more than $70 million in capital.
The Google Fiber group’s capital is in the process of being applied to new equipment and a few of the start-Up companies it is investing in.
“It’s really exciting that we’ve secured capital that’s going to make this happen and that’s what we’re trying to accomplish here,” said Jeff Williams, Google Fiber CEO.
For Google Fiber, the investment comes after years of struggling to find venture capital to finance its ambitions.
Despite the recent investments, Google still needs $1 billion to make it a viable start-UP, according the company’s Chief Financial Officer, John Chambers.
To get that amount, Google is taking a different approach to capitalizing.
We are not raising money from VCs,” Chambers said.
Instead, Google will use a different process, and Google Fiber will be the primary investor in the venture, Chambers added.
As part of the deal, Google has also secured a $10 million investment from Fidelity Investments, according, the same fund that helped fund Facebook, Apple, Google and Amazon.
While that deal is a big boost for Google, Chambers said that it’s only the beginning.
It also means that Google Fiber may have to raise a little more money to get its business off the ground.
Chambers said that Google may have “some other things to do with the money” to finance the new venture.
Still, the Google Fiber investment is a step in the right direction.
“This is a positive for the business, and it’s good for the community,” Chambers added in a statement.
There are a lot of questions, he added.