Pi Datacenters, an enterprise-class data service and cloud service provider, has today announced that it has raised $23 million in its Series A round of funding, led by Epsilon Venture Partners.
Along with Epsilon, a major Australian private equity group has also participated in the current round. Now, Epsilon will be actively involved in Pi Datacenters business and will assist with its growth. Also, Epsilon’s general partner Mahesh Vaidya will join the company’s board.
As per Pi Datacenters’ executive, the funds raised in the Series A round will be used to roll out company’s first few centers across the country with the first one to be built in Amravati which will be up and running by April next year. Continuing to talk about the same, Kalyan Muppaneni, chief executive of Pi Datacenters, said:
Continuing to talk about the same, Kalyan Muppaneni, chief executive of Pi Datacenters, said,
Data is integral to a nation’s security and data centres are the key building blocks of a country’s infrastructure. Epsilon’s technology investment experience across the globe is of significant strategic value that would pave the way for global partnerships in ensuring Pi brings state-of-the-art cloud infrastructure capability to India.
Talking about their investment, Mahesh Vaidya, a general partner at Epsilon, said,
We believe that India will double its internet user base in the next 3-5 years and this should position Pi to capitalise on the growth opportunity.
Sudheer Kuppam, managing partner of Epsilon and former head of Intel Capital Asia, also added:
We are delighted to add Pi to our portfolio of Asian technology company investments and this deployment of capital in such a quality company further demonstrates our sourcing and execution capability, as an independent fund manager.
Pi Datacenters is an enterprise-class data center (DC) and cloud service provider with a disruptive approach to technology, infrastructure, and security, making it well poised to become a major player in the Indian DC market.
Its data center is a greenfield modular five lakhs square foot infrastructure with 5,000 racks capacity, spread across 10 acres. The product portfolio is designed to cater to enterprises across industry verticals, ranging from tailored industry-based cloud-enabled solutions around infrastructure as a service (IaaS), platform as a service (PaaS) and disaster recovery as a service (DRaaS), to off-the-shelf services like co-location, managed hosting and managed services.
