Chinese data center developer Hotwon Group is looking to raise more funds.
Bloomberg reports the company is looking to raise about $300 million in fresh funding to help fuel expansion across the country, according to people familiar with the matter.
The funding round could push the company’s valuation up to $1.5 billion. Hotwon is reportedly working with financial advisers to sound out prospective investors.
Considerations are still ongoing, no final decision has been made and details such as the fundraising size could change; Hotwon didn’t respond to Bloomberg’s request for comment.
Founded in 2015, Shanghai-based Hotwon offers data center design, construction, and operation. It also offers cloud computing services. On its website the company lists nine facilities in Shanghai, two in Chengdu, three in Beijing, 10 in Guangzhou, one in Hangzhou, and one Zhongwei,
Chinese investment managers DCP Capital Partners and CPE co-led a $300 million equity investment round in Hotwon in 2020.