Raxio secures an extra $46 million in equity finance

A $46 million equity fundraising round has been secured by Raxio Data Centres, one of Africa’s top providers of carrier-neutral, Tier III data centers.

Existing shareholders Roha and Meridiam have made a sizeable investment, demonstrating their continued faith in Raxio’s potential and ability to carry it out.

“We are pleased to stand with Raxio as it pioneers the establishment of a network of top-notch data centers around the continent. At a time when demand for high-quality digital infrastructure in Africa from both international and local businesses is growing, this funding will help Raxio expand and solidify its position as the provider with the widest geographic footprint of data centers in Africa, according to Brooks Washington, Partner at Roha.

“Africa is experiencing a surge in the digital revolution, with Raxio being a major driver of this development. Meridiam is delighted to accompany Raxio on its journey and support its objective of improving data center services and connectivity throughout the continent. We’re excited to see Raxio’s development and impact continue with this further equity investment,” said Meridiam Deputy CEO and Partner Mathieu Peller.

Shortly after Raxio successfully obtained a financing facility of up to $170 million earlier this year from Proparco and the Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) business, comes this additional $46 million in equity capital.

Raxio’s financial health and growth prospects have been secured as a result of these investments, which have combined to make it the best-funded independent data center platform on the continent.

The recently obtained capital will be judiciously allocated to bolster Raxio’s growth plans and enable the construction of superior hyperscale-ready data center infrastructure in premier African metropolises.

With this investment, Raxio will be able to offer better services and meet the increasing need in Africa for dependable data processing, storage, and networking solutions.

“Raxio has achieved a significant milestone with this investment,” stated Raxio Data Centers CEO Robert Mullins.

“We are appreciative of Roha and Meridiam, our current shareholders, for their confidence and support. With this infusion of funds, Raxio will be able to meet our clients’ demands for resilient mission-critical environments while also broadening its footprint throughout the continent. In terms of funding

center platform on the continent, it is our duty to maintain the greatest levels of operational quality and sustainability while advancing Africa’s digital infrastructure and connectivity capabilities. We are enthusiastic about the future and intend to carry out our goal of helping African businesses prosper in the digital era.

Concurrently, the Raxio board of directors declared that they had engaged Egon Zehnder to locate a replacement for Robert Mullins, who informed the board lately that he intended to transfer leadership to a successor in the second half of 2024.

“I have thoroughly enjoyed every minute of building the company from scratch to where we are today,” Robert Mullins stated.

The work will gradually change to include managing continuing operations in addition to business growth when four more data centers go up over the next six to nine months.It seemed right that I pass the reins to someone else now that we have all the capital required to carry out our present company plan.

“We believed in the vision that Robert articulated for the company when we joined Roha as investors in Raxio, and we are very grateful that he has delivered,” stated Marvin Bell, a director of Meridiam and a board member of Raxio.

With a presence in seven important regions, Raxio Data Centers has quickly become a dominant force in the African data center industry, becoming the platform with the largest footprint.

The countries in which Raxio operates are Tanzania, the Democratic Republic of the Congo, Ethiopia, Mozambique, Ivory Coast, and Angola.