Phoenix-based data center operator and manufacturer i/o has raised $105M in capital through a new round of financing. They're going to use the money for growth, specifically to accelerate their Data Center as a Service offerings and to fulfill orders from enterprise customers for their i/o ANYWHERE modular data center technology. i/o recently opened their third location with i/o New Jersey, which is built upon that modular technology. They have now also begun work on phase 2 of its giant i/o Phoenix facility using it as well. But the most interesting bit in this press release was that they intend to expand delivery of those modules to Europe and Asia. I wonder if that also means manufacturing them overseas as well, or loading those pre-built modules onto tankers?
The company is clearly making its move and isn't being shy about it. Just six months ago, i/o added $200M to its coffers via a senior long term credit facility and a secured facility. This additional $105M round was led by their current backers at Sterling Partners, with new investors managed by JP Morgan.
i/o also seems to be dropping the 'Data Centers' from their name, and are referring to themselves as 'the leading provider of digital energy technology'. I'm still trying to wrap my head around what that really means, but it obviously reflects the increasingly dominant role that energy supply and costs are playing in the colocation market.
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