DXN to raise $7 million to fund modular datacentre build-out

Prefabricated modular datacentre specialists DXN Limited has received binding commitments to raise $7 million (before costs) by way of a placement to new and existing institutional investors.

The placement follows the company’s A$8.8 million maiden AI HPC modular data centre contract with a US-listed neo-cloud operator, announced last week.

The placement positions DXN to fund delivery of that contract, support DXN’s growing customer pipeline and provide funds to enable DXN to capitalise on accelerating global demand for modular, rapidly deployable, high-density AI compute infrastructure.

DXN’s MD Shalini Lagrutta said this raise comes at a "defining moment" for DXN.

"Having just secured our maiden AI HPC contract with a US-listed neo-cloud operator, this capital allows us to fund delivery of the contract and scale our manufacturing capacity and capability,” she said. 

“This will position DXN to pursue the expected future growth opportunities ahead of us in the rapidly growing AI compute infrastructure sector.”