Singapore-based startup AirTrunk raises SGD851.7 mn to fund expansion plan

Singapore-based startup AirTrunk has raised SGD851.7 million to fund the expansion of its two Australian data centres in Sydney and Melbourne coupled with the promises to expand further afield in the Asia-Pacific region.

The company deals in the growing cloud computing market catering to firms that once ran in-house servers who now shift storage and processing off-site.

The speciality of AirTrunk is that it provides its clients with the physical space, Internet connections, power and cooling for their own servers.

Data Centre of AirTrunk located in Sydney. Photo courtesy: AirTrunk
Data Centre of AirTrunk located in Sydney. Photo courtesy: AirTrunk

Deutsche Bank is the lead arranger, underwriter and sole bookrunner for the new secured debt facilities. The financing is said to be the largest by a data centre company in Australia.

AirTrunk founder and CEO Robin Khuda and shareholders Goldman Sachs and TSSP have also contributed new capital to support the expansion plans.

“AirTrunk continues to pursue its ambition to be the leader in hyperscale data centres for the region,” said Robin Khuda.

“The expansion in Australia will establish AirTrunk as the largest data centre operator in Australia by deployed capacity, and we continue to pursue aggressive growth opportunities across the Asia-Pacific region,” he added.

AirTrunk received AUD150 million (SGD150.7 million) six-year term loan from ING Groep NV and Natixis SA in February 2017. During the same year, the company was also able to bag USD400m in a funding round by Goldman Sachs and TPG Capital.