The additional $46 million in equity funding comes after the firm secured a facility of up to $170 million of debt earlier this year from Proparco and the Emerging Africa Infrastructure Fund (EAIF).
These investments, Raxio says, have made it the “best-funded independent data centre platform on the continent”.
The funds will be strategically deployed to support Raxio’s expansion initiatives and facilitate the development of high-quality hyperscale-ready data centre facilities in leading African metro areas.
The investment will enable Raxio to provide enhanced services and cater to growing demand for reliable data storage processing and connectivity solutions in Africa.
“This funding will help Raxio expand and consolidate its position as the provider with the widest geographic footprint of data centres in Africa at a time where demand for high-quality digital in Africa continues to grow from both international and local businesses," said Brooks Washington, partner at Roha.
CEO succession
Simultaneously, the board of directors of Raxio have announced that they have hired Egon Zehnder to find a successor to Robert Mullins, who recently said that he would step down in the second half of 2024.
“Building the company from scratch to where we are today has been extremely gratifying, and I have enjoyed every minute of it,” said Robert Mullins.
“With four more data centres coming online over the coming 6-9 months, the job will increasingly shift to managing ongoing operations, alongside business development.
“Having secured all the funding needed to execute our current business plan it seemed like the natural moment for me to hand over the baton to someone else”.
