Debt financing
Shared fibre networks operator for data centres CloudExtel raises Rs.200-Cr
Mumbai-based Network-as-a-Service (NaaS) provider CloudExtel has raised INR 200 crore in debt from a private-sector bank. Existing shareholders also participated through a proportionate follow-on equity infusion.Founded in 2012 by Kunal Bajaj, CloudExtel builds and manages shared fibre networks, small-cell infrastructure, and enterprise connectivity solutions for telecom operators, internet service providers, data centres, and businesses.The new funds will be used to scale the company’s fibre footprint and launch its planned Data Centre Interconnect (DCI) network, starting in Mumbai and expanding to Bengaluru, Hyderabad, Delhi, Pune, and other metros.
Between May 2023 and Apr 2024, CloudExtel had attracted about USD 124 M from Macquarie and others.For FY24, CloudExtel had reported about INR 163 Cr in Operating Income and about INR 33 Cr in Net Loss.
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