Luxembourg-based telecoms operator Luxnetwork is raising €5m in financing to accelerate the country's digital transformation and extend its European network. A structured financing deal, carried out with Spuerkeess, SNCI and Mutualité de Cautionnement, took more than a year to arrange. The agreement aims to connect Luxembourg to more than 20 data centres across Europe, while improving the performance of links between the country and cities such as Brussels, Frankfurt and Paris.

The initiative targets growing demand for ultra-high-speed connections and strategic sectors such as finance, technology and logistics. With this infrastructure, companies gain access to 100Gbps and 400Gbps connectivity services, which are crucial to their operations and competitiveness. "This €5m financing will enable us to consolidate our position as a key player in connectivity [...] while strengthening Luxembourg's competitiveness in the field of telecommunications," , founder and CEO of Luxnetwork, stated in an announcement.

Luxnetwork relies on advanced technologies developed with Ciena to offer cutting-edge solutions, the firm said. By integrating data centre hosting and ultra-fast connectivity, the company is strengthening its role in the country's economic development and the interconnection of European digital infrastructures.

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