DayOne, the international data centre operator backed by China’s GDS Holdings, is raising more than $1 billion in fresh funding to accelerate its expansion across Southeast Asia and Europe.
The Singapore-based firm, formerly GDS International, is in talks with new and existing investors, including major infrastructure and Middle Eastern sovereign wealth funds.
The Series C round could value DayOne between $4 billion and $5 billion before the new capital injection.
DayOne, which separated from Shanghai-based GDS earlier this year, said the fundraising is independent of its former parent. Current investors include Hillhouse Investment, Boyu Capital, Coatue Management and the SoftBank Vision Fund.
The company manages about 480 megawatts of operational or in-construction capacity, with another 590 MW in development across Asia and Japan.