(WEB HOST INDUSTRY REVIEW) — South African colocation provider Teraco Data Environments (www.teraco.co.za) announced on Monday it raised $6 million in a successful Series-B round of financing, consisting of equity and loans.
This financing round follows the closing of last year’s Series-A financing round of $5.5 million.
Series-A investors participated in this second round with one new investor, Guy Willner, co-founder and CEO of Equinix Europe, who recently joined Teraco’s board.
Treacle Private Equity, a majority black owned South African private equity group, provided about 65 percent of the funding, which brings Teraco’s black ownership up to 31 percent.
The finance will fund the development of the company’s data center in Isando on the East side of Johannesburg, which is projected to be completed by the end of the year.
Many Teraco customers have already entered into agreements to move their telecommunications and IT equipment into the facility from January 2009.
The Teraco Isando facility is powered by dual feeds from Eskom of 7MVA. This will generate enough power for Teraco’s plan to expand the site, in various phases, to 11,480 square feet.
All major South African carriers are currently colocated in Teraco’s data center in Cape Town, which opened in February. These carriers will also be present in the new Isando colocation facility.
“The location of Teraco’s new data center in Isando, more than 25km from Sandton Midrand and central Johannesburg, makes it an ideal disaster recovery site for companies wanting to safeguard their data from power failures in the main business districts,” says Lex van Wyk, managing director of Teraco. “The building also offers an excellent high site for companies looking into utilizing wireless services.”
According to the company, local councilors have welcomed the investment into the Ekurhuleni Municipality.
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