IXcellerate, one of the most established data center company in Russia, has raised approximately some $190 million. The round — the largest ever in this field in the country — was led by sovereign wealth fund Mubadala (UAE) with participation from its Russian peer RDIF, SberInvest, and iXcellerate’s existing investors.

Cited by Sber, the state-owned financial and digital giant that owns SberInvest, IXcellerate says it will use the proceeds to expand its Moscow North and South campuses. The company aims to “build new capacities, improve power efficiency and run one of the largest data campuses in Europe.”

“IXcellerate has a successful record as a reliable supplier of high-quality data center services in Russia. The company is well-positioned to continue growing and reinforcing its position as a leading colocation operator, directly enhancing Russia’s digital infrastructure,” believes Abdulla Naser Almarzooqi, deputy head of Mubadala’s Russia and CIS Investment Program.

IXcellerate’s previous investors include IFC (World Bank Group) ($2.6 million in 2012), Goldman Sachs ($15 million in 2017) and French Partners (2020).

According to iKS Consulting, five operators account for some 57% of the Russian data center market. The market leader is Rostelecom, followed by DataPro and IXcellerate as well as Selectel and MTS.