International Finance Corporation (IFC) has announced the investment of $35m into Odata. The company announced on LinkedIn that it is supporting the growth of the Brazilian data center firm with the capital infuse. Odata will use the capital to develop a second data center in Querétaro, Mexico. According to reports, Sumitomo Mitsui Banking Corporation is part of the financing agreement.
OData's director of new business, Fernando Jaeger, said: “We have been in a firm partnership with IFC since 2020, this new tranche of funding came to support OData's growth in Mexico. We were pioneers in the local hyperscale market, we were able to ensure capacity for the development of our projects and we are ready to serve a market that is undergoing major changes. In addition, we see great prospects for Mexico and Latin America.”
OData was founded in 2015. The data center company is based in Sao Paulo, Brazil, and it offers data center services from three data centers in Brazil and one each in Mexico and Colombia. IFC had previously invested $60m in Odata in two batches- one in January 2021 and the other January 2022.
