Nautilus Data Technologies had closed on a $10 million Convertible Note on a $50 million round led by UIL Limited. The Convertible Note calls for a second close of $40 million in 2021. Based in Bermuda, UIL Limited invests in a broad range of themes, including utility & infrastructure, financial services, mining and resources, mobility and technology.
To support data center construction
The Convertible Note builds on the Series C round led by Mancal Corporation that closed in December 2020. On completing the Series C round, Steven Feick, Vice President, Corporate Ventures, joined the board on behalf of Mancal Corporation and John Watson joined the board as an independent director.
James L. Connaughton, CEO of Nautilus Data Technologies, said,
“We are excited to have UIL lead. With our first data center commissioned in Stockton, California, projects in development in the US, Europe, and Asia, a global project development and construction partnership with Bechtel, and an expanded and deeply experienced leadership team, we are poised for growth directly and through joint-venture partners globally.”
Nautilus uses 80% less cooling power, reduces CO2 emissions by 30%, and consumes no potable water. Nautilus delivers a waterborne data center, which is also less expensive than traditional land-based facilities.