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
The Tech Panda takes a look at recent funding events in the tech ecosystem, seeking…
The first time I heard about Bitcoin was in the summer of 2018 during a casual conversation…
Open source software is everywhere—used in almost every modern application—but the security challenges it faces…
Argentine President Javier Milei is facing impeachment after the cryptocurrency he endorsed called $LIBRA crashed…
India is targeting US$500 B in electronics production by 2030. Last year July, Niti Aayog…
The IMF predicts that more Indians will use AI every day than in any other…
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.