Excl: Intel-backed NxtGen Datacenter & Cloud Tech in talks to raise $15M in Series B round
Bangalore-based IT infrastructure services provider NxtGen Datacenter & Cloud Technologies Pvt Ltd is in advanced talks to raise $15 million in its Series B round of funding from strategic and financial investors in India, the US, Europe and Japan, a source privy to the development told Techcircle.in.
Existing investor Intel Capital will also participate in this round, Pradeep Tagare, director, Intel Capital, confirmed.
The company will use the funds to make its data centre in Bangalore operational, besides sales and marketing.
While Aashish Bhinde from Avendus Capital refused to comment on the development stating that the firm does not share details about client engagement, the source revealed that Avendus is acting as the sole transaction advisor to NxtGen for the deal.
Last year, NxtGen had raised $8.8 million (Rs 53.9 crore) from Intel Capital.
Founded in May 2012 by AS Rajgopal, the startup delivers central IT platform as a service to enterprises, providing full spectrum data centre and enterprise cloud services from its own high density data centre facilities and deploying centrally managed on-premise data centres at customer locations. According to NxtGen, its centrally managed, hybrid data centre solutions offer customers reliable, secure and efficient IT infrastructure that helps companies optimise their central IT platforms.
While the company is focusing on markets in India and the Middle East, it is planning to enter Southeast Asia. NxtGen has a cloud-based data centre in Bangalore and is looking to launch more in Mumbai, the Middle East and Sri Lanka.
(Edited by Joby Puthuparampil Johnson)