June 27, 2024
Los Angeles, CA – Metrobloks, a US-based data center infrastructure development startup, has emerged from stealth mode after securing an oversubscribed $5.2M seed round. The funding, led by Current Equity Partners with the backing of Serena Capital, will enable Metrobloks to deliver high-performance data centers to urban metro markets, enhancing the landscape of data infrastructure.
Metrobloks is addressing a critical need in the data center market: low-latency computing for AI workloads. With this need in mind, they have developed a unique approach to design, deploy, and operate modular and scalable data centers in underserved urban markets. This approach will not only enhance performance for businesses but also significantly impact urban communities by increasing access to high-performance computing at scale.
“Over the past year, we have seen AI capabilities firmly placed in the hands of consumers. Recent news and product announcements have underscored that AI will be everywhere, integrated directly into edge and endpoint devices. Metrobloks’ goal is to extend data center capacity to these devices, especially in underserved metro markets. By providing 'AI at the edge,' we enable real-time processing and decision-making without reliance on cloud servers. This decentralization of AI processing offers low-latency capabilities and improved reliability to enterprise customers and traditional hyperscalers, whose services are often located in congested and over-developed campuses far away from end users” said Ernest Popescu, CEO of Metrobloks.
The Metrobloks founding team consists of data center experts, real estate developers, entrepreneurs and tech innovators with extensive experience with industry giants like AWS, Meta, and Iron Mountain, previous roles where they enabled more than 12GW capacity across 25 countries. This unique combination of expertise positions Metrobloks at the forefront of providing high-performance data center solutions tailored to the unique needs of AI/ML, IoT, gaming, and streaming services.
“We want to be the easy button, creating an ecosystem of data centers operating between the Internet Exchange Points (IXPs) and the Availability Regions (ARs),” said Ernest Popescu, CEO of Metrobloks. “Our vision is to reinvent how data centers are built and operated by integrating modularity, sustainability, software, and AI to help data center infrastructure perform to its maximum potential, benefiting both providers and end-users. This gives us a significant advantage over traditional data centers trying to rethink their design, layout, and equipment choices to accommodate AI workloads.”
Metrobloks found the right investors with Current Equity Partners, a private equity firm focused on investing in the new digital economy, and Serena Capital, one of the largest tech venture capital firms in Europe. These firms recognize the critical role that Metrobloks will play in the future of urban data infrastructure while bringing their own expertise around two of Metrobloks’ core tenets: sustainability and innovation.
“One of our primary goals was finding the right investment partners that could amplify our vision for sustainable and future-proof data centers in underserved urban markets around the world,” added Alejandro Maldonado, Chief Strategy Officer of Metrobloks. “As we continue to develop different sites and our programmatic investment platform grows, we will continue to focus on engaging the right equity partners.”
“We are thrilled to partner with Ernest and the broader metrobloks team as they address a growing crucial need in the data center market,” said PJ Fielding, Managing Partner at Current Equity Partners. “Their deep experience and innovative approach make them well-positioned to transform how data centers operate in metropolitan areas.”
Commenting on his firm’s participation in the equity funding round, Bertrand Diard, partner at Serena Capital mentioned “We believe the Data Center space is ripe for significant innovation. By adding a technology layer Metrobloks will be able to make a larger impact on this industry”.
For more information about Metrobloks, visit metrobloks.com.
About Metrobloks
Metrobloks is revolutionizing data infrastructure in major metro areas across North America. With a focus on providing low-latency, high-capacity data solutions for AI/ML, IoT, Gaming, Streaming and other data intensive services, Metrobloks delivers future-proof multi-tenant colocation facilities to underserved urban markets. Founded by a diverse team of industry veterans, Metrobloks is committed to shaping the future of digital connectivity.
About Current Equity Partners
An investment firm founded by J.C. Frey and P.J. Fielding. The firm is focused on supporting the infrastructure build-out of the new digital economy. The team empowers, supports and provides financial backing to founders with differentiated expertise and nuanced investment experience to generate above-average risk-adjusted returns. The firm invests on behalf of its principals and other like-minded ultra-high net worth individuals.
https://currentequitypartners.com
About Serena Capital
Serena is one of Europe's leading investment funds. Founded in 2008, Serena finances and supports innovative start-ups from pre-seed to Series A, with initial checks ranging from €500k to €15m. Focus sectors: AI, SaaS, Climate Tech, Impact. The portfolio includes successful exits such as The Fork (acquired by Tripadvisor), Aramis Auto (acquired by Peugeot). They have invested in nearly 100 companies across the globe.
