NxtGen To Raise $100m For Expansion in India

According to The Business Standard, NxtGen Datacenter and Cloud Technologies want to raise $100 million. The company intends to use the money raised to fund an expansion spree in India. NxtGen is looking to develop 236 Edge facilities and 10 data centers across India. The company offers IT services which include colocation, CDN, and disaster recovery. NxtGen claims it operates four data centers in Faridabad, Bangalore, Mumbai, and Ahmedabad.

NxtGen wants to build new data centers in Hyderabad, Chennai, and Visakhapatnam. The company’s current investors include Iron Mountain, IFC, and Intel Capital. The CEO & MD, NxtGen Datacenter and Cloud Technologies, A S Rajgopal, said the company would be investing up to Rs 500 crore to develop more than 10 data centers in India. He added that over 236 Edge data centers are also in the works with over Rs 800 crore potential investment. Rajgopal commented that it wants to fund Rs 600 crore through equity.