Monday, July 13, 2009

Teraco Raises Funding for Data Centers in South Africa

Teraco Data Environments (Teraco), which operates vendor neutral colocation facilities in South Africa, has raised R50-million in a successful Series-B round of financing to expand its facilities. The financing, which consists of equity and loans, follows on the conclusion of a Series-A financing round of R45-million in 2008.

Teraco plans to expand its data centre in Isando on the East side of Johannesburg. Construction is under way and will be complete by the end of the year. A number of Teraco customers have entered into agreements to move their telecommunications and IT equipment into the facility from January 2010.

Series-A investors participated in this second round with one new investor, Guy Willner, co-founder and CEO of IXEurope (now Equinix Europe) who recently joined Teraco's board.


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