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Market Chatter: Samsung-Backed MangoBoost Seeks Series B Funding as it Turns Profitable

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Data center infrastructure startup MangoBoost, backed by Samsung (KRX:005930), is seeking Series B funding to expand into the UAE and Japan after achieving profitability, Bloomberg News reported on Wednesday, citing CEO Jangwoo Kim.

Kim declined to disclose fundraising details or valuation expectations but said the company has raised over $100 million cumulatively to date, the news wire said.

The company aims to prove it builds the world's most cost-effective data centers, Kim said in a Bloomberg Television interview on Wednesday.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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