NxtGen raises $13.5 million from IFC, Axon Partners Group and Intel Capital

Chandigarh, July 01, 2015: NxtGen Datacentre & Cloud Technologies, the IT infrastructure services company, headquartered in Bengaluru, has raised $13.5 million from International Finance Corporation (IFC), a member of the World Bank Group; international investment firm, Axon Partners Group; and Intel Corporation's global investment organization, Intel Capital; as part of series B funding for expansion activity.


The financing will be used to complete a high density data centre facility in Bangalore and increase further investments into cloud infrastructure. NxtGen currently has two data centres in India – in Mumbai and Bengaluru – and has offices in four major metros Bengaluru, Mumbai, Chennai, and Delhi. It has 105 employees and 200+ channel partners taking its services to market.


"This second round of funding, will enable us to further strengthen our growth plans in India and initiate our international strategy. We are thankful to Intel for reinforcing their commitment in us and participating in the second round. Both IFC and Axon, bring in a wealth of global market experience to guide us in this rapid growth phase. We look forward to delivering increased value proposition to our customers globally," said A S Rajgopal, CEO, NxtGen.


"Congratulating NxtGen on this new partnership", Atul Mehta, IFC Director for Telecom, Media, and Technology, Venture Capitals and Funds, said, "Affordable and effective IT infrastructure colocation and cloud computing services are increasingly important for digital inclusion and economic development. Built to top industry standards, NxtGen's data centers will support India's growing need for data consumption, incur capital savings for businesses, and boost direct and indirect job creation."


The Telecom, Media & Technology (TMT) group at IFC focuses its investments on mobile, broadband, and infrastructure sharing. Independent datacenters fit well into IFC's strategy as they are an integral critical component of the telecom infrastructure, and allow for the evolution of an IT ecosystem in local economies. IFC's TMT group has invested in five other datacenter companies in emerging markets - GDS/EDC-China, Teraco-South Africa, iXcellerate-Russia, DeNovo-Ukraine and Zenium-Turkey.



Francisco Velázquez de Cuéllar, President of Axon Partners Group said, "NxtGen has made great achievements in just three years and the data centre market offers huge opportunities for investors right now. At Axon, we look primarily at the team behind the business and in NxtGen we have found an experienced team with the professionalism and skill to take the company to the next stage of growth and lead its international expansion.



Axon Partners Group specialises in growth capital investments in the digital technology market and will take the position of international corporate partner of NxtGen, using its international presence and expertise within emerging markets to support the company in its international growth plans, specifically into Latin America and the Middle East. NxtGen is Axon's second investment in the cloud technology sector, having invested in O4IT, a leading cloud technology services company in Latin America, in 2014. Axon is investing with its India Opportunities Fund, which has also invested in companies like iYogi and Captronics Systems, and recently performed a successful exit of JustEat India.



Note to editors:



About NxtGen

NxtGen is an emerging leader in data center and cloud-based services that help powering businesses to grow by cutting through complexity and saving on cost. Our high end advanced solutions can be provided both from our own high density data center (HDDC™) facilities or deployed at On-premise data centers (OPDC™) that are managed centrally.



Our Enterprise Cloud Services™ (ECS) provide private and public clouds or hybrid cloud infrastructure hosted on OPDC™ or HDDC™. NxtGen's advanced infrastructure enable companies to simplify IT infrastructure, reduce running costs, and enable business growth by creating additional capacity from existing infrastructure. By providing the right public or private infrastructure, NxtGen helps companies meet dynamic business demands. For more information, visit: https://nxtgen.com/about/



About Axon Partners Group and the India Opportunities Fund

Axon Partners Group is an international Investment, Corporate Development and Consulting firm. Its Investment division, an emerging markets specialist, manages over USD 200m in funds worldwide, with The India Opportunities Fund (Gurgaon, Delhi) being one of its largest, through which it recently performed a successful exit of JustEat India and investment in iYogi, a remote technical support firm based in Gurgaon, India.



Axon is perfectly positioned to support Indian companies in their international expansion due to its on-the-ground presence and experience in geographies such as Latin America, Europe and the U.S. Axon plans to increase its investment activity throughout 2015, concentrating on companies in the growth or expansion stages in the healthcare and technology sectors.



See www.axonpartnersgroup.com or follow @AxonPG for more information.



About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit www.ifc.org

Originally Source : Perfect Relations