Raxio, a leading carrier-neutral, data center company in Africa, has announced that it has raised $46 million in equity funding from existing shareholders, Roha and Meridiam, and $170 million in debt from Proparco and the Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company.
The company plans to use this funding to build new data centers in key African markets and support its continued growth.
“We’re proud to support Raxio as it leads the way in creating a network of best-in-class data centres across the continent. 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 infrastructure in Africa continues to grow from both international and local businesses,” said Brooks Washington, Partner at Roha, one of the existing shareholders.
“We are grateful for the trust and support of our existing shareholders, Roha and Meridiam. This capital injection will allow Raxio to continue to expand its presence across the continent and to deliver the resilient mission critical environments that our customers are looking for” said Robert Mullins, CEO of Raxio Data Centres.
Raxio currently operates data centers in Uganda, Ethiopia, Mozambique, Ivory Coast, the Democratic Republic of Congo, Angola, and Tanzania. The newly acquired funds will be strategically deployed to support Raxio’s expansion initiatives and facilitate the development of high-quality hyperscale-ready data center facilities in leading African metro areas. This investment will enable Raxio to provide enhanced services and cater to the growing demand for reliable data storage, processing and connectivity solutions in Africa.
In addition to its fundraising announcement, Raxio also announced that CEO Robert Mullins will step down in the second half of 2024. The company has hired Egon Zehnder, a leading global executive search firm, to find Mullins’ replacement.
“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, adding, “with four more data centres coming on-line 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”, Mullins said.
