Campana raises $40m to fund network expansion in ASEAN region
Singapore-based Campana Group has announced a US$40 million Series B equity financing round, co-led by Tokyo based Mitsui & Co, and Myanmar businessman U Thein Htwe.
In addition to the Series B financing, Campana is arranging a debt facility of an additional US$40 million, for a total funding of more than US$ 80 million in equity and debt.
"We are very pleased to have U Thein Htwe’s continued participation as a private investor with Mitsui joining as new shareholders" said Dr Myo Ohn, CEO of Campana. "Not only does their investment in the company represent a tremendous validation of our business plan and leadership in the industry, but their strategic insights, deep relationships, and significant resources will play an important role in this next phase of Campana’s and the industry's evolution, helping us continue our expansion into Myanmar, Thailand and Singapore."
The funding will be used for the direct express SIGMAR submarine cable (Singapore-Myanmar), a four-fibre pair 2200 km system that will connect from Campana’s Thanlyin (Myanmar) International Gateway (IGW) facility, only 16 km south-east of Yangon city, to Tuas (Singapore). Campana will then offer diverse fibre backhaul to Yangon and Singapore via open access points of presence (POPs) creating the largest capacity lowest latency data centre corridor between Singapore and Myanmar. Branching units will be installed for both a future landing in Thailand and for subsea interconnection with cables coming from the West.
In addition to SIGMAR, the proceeds will also be used to increase investments in the metro core and last mile; accelerating Campana’s growth in Enterprise and Cloud services. All these investments lead to the creation of a healthy digital ecosystem, the result of the convergence of a submarine cable gateway, datacenter hub, connectivity and Cloud.
Dr Ohn further commented: “The continued need for ultra-broadband access is driving the new projects in the Asia-Pacific region and contributing to the upward trend the submarine cables industry is experiencing. This project is a strong example of this and we are pleased to support and invest in Campana in advancing the digitalization capabilities in the ASEAN market and speicifically in Myanmar. SIGMAR’s rollout will contribute to stimulating innovation in other critical industries, such as education, healthcare and finance, and ultimately to Myanmar’s overall socio-economic development.”