NxtGen Datacenter and Cloud Technologies are looking to raise $100 million to fund data center expansion across India.
The Business Standard reports the company is gearing up to invest Rs 1,300 crore ($174.3m) to develop 10 more data centers and 236 Edge facilities across the country.
NxtGen offers a number of IT services including cloud, CDN, colocation, and disaster recovery. According to its site, the company currently operates four data centers in Bangalore, Ahmedabad, Faridabad, and Mumbai.
The company is looking to develop new facilities in Chennai, Hyderabad, and Visakhapatnam with the new investment. Its current investors include Intel Capital, IFC, and Iron Mountain; it raised $13.5 million in 2015. Axon Partners Group sold its stake in the company to Iron Mountain last year.
“For 10 more data centers, we are investing around Rs 500 crore. To complement these, another 236 Edge data centers are also being planned that may see another Rs 800-crore investment,” said A S Rajgopal, CEO & MD, NxtGen Datacenter and Cloud Technologies.
“We want to fund roughly around Rs 600 crore through equity and if we are committed to the ESG (environment, social, and governance) thought process, a lot of funds will be ready to invest in data centers,” he said. “Even when we started first in 2014, we used to generate 250kWh of rooftop solar power. We are also looking at things like green building, recycling electronic waste, and reducing the cost of mobility.”
