AirTrunk banks $332 million financing for Singapore data center

AirTrunk, one of the region’s top-funded startups, just secured over US332 million in debt financing to bankroll its expansion in Singapore.

The company said it will develop a 60-megawatt hyperscale data center in the city-state, “a strategic hub due to its economic and political stability and rich connectivity to Asia, the US, and Europe.”

AirTrunk’s data center in Sydney, Australia / Photo credit: AirTrunk

The facility will be built in Loyang, a prime area that’s near the key sub-sea Changi North internet landing station. It will go online by mid-2020.

Headquartered in Singapore and Australia, AirTrunk specializes in building and operating hyperscale data centers aimed at meeting the ever-growing demand for cloud services in Asia Pacific.

Those data centers are said to be more energy-efficient and cost-effective than traditional ones. They make use of a single computer architecture that can be rapidly and easily scaled by bringing more machines online as and when needed.

AirTrunk’s flagship facilities are located in Sydney and Melbourne.

The debt financing came from three global financial institutions: Deutsche Bank, Goldman Sachs, and Natixis. AirTrunk founder and CEO Robin Khuda and shareholders, along with Goldman Sachs and TPG Sixth Street Partners, also infused some equity capital.

“This provides us with a strong balance sheet to pursue further growth,” said Khuda.

See: Meet the 50 top-funded startups and tech companies in Southeast Asia

Currency converted from Singapore dollars. Rate: US$1 = S$1.35