Campana Group, which is headquartered in Singapore, has clinched $40m in Series B equity funding to build new subsea links between the city state, Myanmar and Thailand.
The funding round was co-led by Tokyo-based conglomerate Mitsui & Co and existing investor and Myanmar businessman U Thein Htwe.
In addition to the Series B financing, Campana has arranged a debt facility for an additional $40m, which takes the total new funding to $80m in equity and debt.
The cash will be used for the direct express SIGMAR submarine cable (Singapore-Myanmar), a 4-fibre pair 2,200 km system that will connect from Campana’s Thanlyin (Myanmar) International Gateway (IGW) facility – only 16km south-east of former capital city Yangon – to Tuas (Singapore).
Campana will also offer diverse fibre backhaul links to Yangon and Singapore via open access points-of-presence (POPs), creating the largest capacity, lowest latency corridor between Singapore and Myanmar. In addition, branching units will be installed for both a future landing in Thailand and for subsea interconnections with cables coming in from the West. SIGMAR is scheduled to be ready for commercial service in 2020.
On top of SIGMAR, Campana will increase investments in the metro core and last mile across the region, helping to accelerate Campana’s growth in enterprise and cloud services.
Myo Ohn, CEO of Campana, said the investors “strategic insights” will play an important role in helping the company expand its business across Myanmar, Thailand and Singapore.
Ohn said: “The continuing need for ultra-broadband access is driving new projects in the Asia-Pacific region and contributing to the upward trend the submarine cable industry is experiencing. SIGMAR is a strong example of this.
“Campana is pleased to support and continue to invest in advancing digitalisation capabilities in the ASEAN market and specifically in Myanmar, to aid the country’s overall socio-economic development.”