CloudExtel raises ₹200 crore to boost AI-ready infra, expand metro cities’ fibre network

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CloudExtel has raised ₹200 crore in debt from leading private sector banks to expand its metro fibre network and build infrastructure to support rising AI-led data demand. The deal is one of the first instances of project financing for a fibre network by lenders.

The company, in a press release, said its existing shareholders have also put in additional equity on a proportionate basis. CloudExtel said the funds will be used to speed up network rollout and strengthen its presence in major metros.

Kunal Bajaj, CEO and Co-Founder of CloudExtel, said,…



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CloudExtel raises ₹200 crore to boost AI-ready infra, expand metro cities’ fibre network


CloudExtel has raised ₹200 crore in debt from leading private sector banks to expand its metro fibre network and build infrastructure to support rising AI-led data demand. The deal is one of the first instances of project financing for a fibre network by lenders.

The company, in a press release, said its existing shareholders have also put in additional equity on a proportionate basis. CloudExtel said the funds will be used to speed up network rollout and strengthen its presence in major metros.

Kunal Bajaj, CEO and Co-Founder of CloudExtel, said,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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