Bangalore-based DataCenter and Cloud Technology Company NxtGen Raises Rs. 53.9 Crores from Intel Capital
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.