Epsilon Venture Partners, the pan-Asian technology focused fund manager along with a major Australian private equity group, has invested R154 crore in AP-based Pi Datacenters, an enterprise class data center and cloud service provider. Epsilon will be actively involved in assisting with the build and growth of Pi, having already introduced local blue-chip prospective clients.
“India is poised for an explosion in digital data with the numerous technology initiatives adopted by the government of India and the various state governments. Data is integral to a nation’s security and data centers are the key building blocks for a nation’s infrastructure. Epsilon’s technology investment experience across the globe is of significant strategic value that would pave the way for global partnerships in ensuring that Pi brings state-of-the-art cloud infrastructure capability to India,” Kalyan Muppaneni, founder & CEO of Pi, said in a statement. The funds raised would add to help to roll out first few data centres across India.
The round was led by Epsilon’s General Partner based on the ground in India, Mahesh Vaidya, who will be joining the company’s board. “The data centre and cloud infrastructure space in India is poised for robust growth over the next decade as evidenced by the trends observed in mature economies such as the US and Europe,” Mahesh said. Majority of countries are already emphasizing data sovereignty as a vital element of a nation’s security with appropriate measures in place.
India initiated moves in this area a few years ago, with the mandate for local hosting of all its citizens’ financial and personal data. Moreover, fundamentally, India will double its internet user base in the next three to five years and this should position Pi very well to capitalize on this secular growth opportunity.
Pi is an enterprise class data centre (DC) and cloud service provider with a disruptive approach to technology, infrastructure and security, making it well poised to become a major player in the Indian DC market. Its data centre is a greenfield modular five lakhs square foot infrastructure with 5,000 racks capacity, spread across 10 acres. The product portfolio is designed to cater to enterprises across industry verticals, ranging from tailored industry based cloud enabled solutions around infrastructure as a service (IaaS), platform as a service (PaaS) and disaster recovery as a service (DRaaS), to off-the-shelf services like co-location, managed hosting and managed services.