1. NxtGen raises $13.5 million to fund expansion plan

NxtGen raises $13.5 million to fund expansion plan

Bengaluru-based IT infrastructure services company NxtGen Datacentre & Cloud Technologies has raised $13.5 million from International Finance Corporation (IFC), Axon Partners Group and Intel Capital as part of its series B funding.

By: | Published: July 2, 2015 12:36 AM

Bengaluru-based IT infrastructure services company NxtGen Datacentre & Cloud Technologies has raised $13.5 million from International Finance Corporation (IFC), Axon Partners Group and Intel Capital as part of its series B funding. The fund will be used on expansion and completing a high-density data centre facility in Bengaluru and increase investments in cloud infrastructure.

“This second round of funding, will enable us to strengthen growth plans in India and initiate our international strategy. Both IFC and Axon, bring in a wealth of global market experience to guide us in this rapid growth phase. We look forward to deliver an increased value proposition to our customers globally,” said S Rajgopal, CEO, NxtGen

NxtGen, currently, has two data centres in India — Mumbai and Bengaluru — and has offices in four major metros — Bengaluru, Mumbai, Chennai and Delhi. It has 105 employees and over 200 channel partners taking services to market. Atul Mehta, IFC director for telecom, media, and technology, Venture Capitals and Funds, said, “Affordable and effective IT infrastructure location and cloud computing services are important for digital inclusion and economic development.

Built to top industry standards, NxtGen’s data centers will support India’s growing need for data consumption, incur capital savings for businesses, and boost direct and indirect job creation.”

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