Singapore-based DayOne Data Centers is in advanced talks to raise more than US$2 billion in an upsized Series C funding round to fund its international expansion, as reported by Singapore Business Times citing people familiar with the matter. The parties could reach a deal before the end of the year, said the people, adding that if the potential fundraising is successful, the data center operator might achieve a valuation of about US$10 billion.
Some new investors might join although existing ones dominated, the people further said.
A representative from DayOne did not respond to a press request for comment.
In September, Bloomberg News reported that DayOne was thinking of raising at least US$1 billion in a funding round to fund its Southeast Asia and Europe expansion.
Existing backers included those from Boyu Capital, Hillhouse Investment, SoftBank Vision Fund and Citadel chief executive officer Ken Griffin.