China: Hotwon Group Plans To Raise $300 million To Fund Expansion

According to Bloomberg, Hotwon Group is looking to raise up to $300 million in funding. The Chinese data center developer hopes to use the money raised to expand its footprint across the country. Once successful, Hotwon’s valuation will increase to $1.5 billion. Reports also show that the company is working with financial advisers to identify prospective investors. 

Worthy of note is that consultations and considerations are still in progress, and the final decision hasn’t been made. Details like the fundraising size could still be altered. Hotwon was founded in 2015, and it offers design, construction, and operation of data centers. The company also provides cloud computing services to customers. Hotwon’s website shows that it has three data centers in Beijing, two in Chengdu, 10 in Guangzhou, one in Zhongwei, nine in Shanghai, and one in Hangzhou.