Bangalore-based IT infrastructure services provider NxtGen Datacenter & Cloud Technologies Pvt Ltd has raised Rs 53.9 crores ($8.8 Million) from Intel Capital, the global investment and merger & acquisition (M&A) arm of Intel Corporation. The investment director for the funding was Pradeep Tagare, who is also the director of Intel Capital India, and the investment came from the $250 million Intel Capital India Technology Fund, which was established in December 2005.
NxtGen will utilise the funds to complete its upcoming large and high density data center in Bangalore, and for further development of on-premise data centres.
Commenting on the funding, AS Rajgopal, MD and CEO of NxtGen, said, “Our centrally managed, hybrid data center solutions offer customers reliable, secure and efficient IT infrastructure that helps companies optimize their central IT platforms. This investment from Intel Capital will be used to complete the large high density data centre facility coming up in Bangalore, which we expect to be operational by March 2014, and for further development of on-premise data centres.
“In the first year, the growth rate was good as we stared from zero,” he added.
NxtGen has a cloud-based data centre in Bangalore and is looking to launch more in Mumbai, the Middle East and Sri Lanka.
Till date, Intel Capital has invested over $330 million in more than 90 technology companies across 10 cities in India. The firm invests in a broad range of companies offering hardware, software and services for sectors such as enterprise, mobility, health, consumer internet, digital media and semiconductor manufacturing.
Via: TechCircle
Launching India’s Sovereign AI Compute Network in Orbit Before the End of 2026 Reimagining sovereign…
The Tech Panda examines the forces shaping ecosystem behaviour and investment sentiment in India. HDFC…
The Tech Panda takes a look at recent funding events in the tech ecosystem, seeking…
Finternet Labs, a universal digital infrastructure announced a collaboration with Avalanche, the high-performance Layer-1 blockchain…
On January 16, the chief constable of West Midlands Police in the United Kingdom stepped…
The Tech Panda takes a look at the efforts at skilling, upskilling, and reskilling in…
View Comments
yes! IT infrastructure and datacenter technologies are now growing which helps in Indian online work. The server hosting is necessary now because of sensitive data. Rack Bank datacenter in Indiaprovide you all needs and solution of your problems.