NxtGen data center and enterprise Cloud services raises INR 50 crores from Intel Capital

Intel-nxtgenNxtGen Datacenter, a Bangalore based startup providing datacenter and enterprise cloud services, has recently raised an amount of INR 50 crores from Intel capital, as reported by ET. As a part of the deal, Intel capital will get an undisclosed equity stake in the company.

NxtGen, founded in 2012, provides business-class infrastructure to reduce time, increase coverage and availability. It provides datacenter & cloud services from it’s own High Density Data Center (HDDC) facilities or deploy centrally managed On Premise Data Center (OPDC).

As per the reports, the company is targeting revenues of INR 500 crore in next three years and is planning to launch another cloud data center in Delhi and Mumbai. Also, NxtGen has recently acquired around ten acres of land in the outskirts of Bangalore for setting up an advanced facility.

Owing to the growing data storage needs of large corporations, banks and media companies, demand for storing and analyzing big data, has increased significantly in past few years. According to IDC’s latest research, the third-party data centre opportunity in India is being valued at around $671 million (nearly Rs 4,000 crore) by the end of 2012—a growth of 36.5% from the year ago period.

Intel capital is the global investment and M&A arm of the world’s largest computer chip-maker Intel Corporation. Till date, it has made an investment of around $320 million in over 80 Indian companies. Some of these include- Hungama.com, Yatra.com, July Systems, Tejas Networks, WSO2 Inc., Fashion and You, Happiest Minds and Saankhya Labs. Globally, it has invested around US$10.8 billion in over 1,250 companies in 54 countries.

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