Bharti Airtel’s data center subsidiary Nxtra has secured a $1 billion (approximately ₹9,400 crore) strategic funding round led by Alpha Wave Global and Carlyle, as reported by Inc42 Media. This investment aims to bolster Nxtra’s data center capabilities, with plans to scale up its capacity to 1 gigawatt in the coming years.
Nxtra currently operates 14 major core data centers and over 120 edge facilities, serving a diverse clientele ranging from enterprises to startups, SMEs, and government entities. After the funding round, Airtel will maintain its majority stake in the data center arm.
The funding distribution includes $435 million from Alpha Wave, $240 million from Carlyle, and $290 million from Airtel. Anchorage Capital is also contributing $35 million to the initiative.
This funding round values Nxtra at approximately $3.1 billion post-investment. The capital infusion will be pivotal in advancing Nxtra’s growth, enhancing its infrastructure, and expanding its service offerings.
Airtel’s executive vice-chairman, Gopal Vittal, highlighted the company’s commitment to building a data center network to meet the evolving demands of various sectors. Nxtra aims to reach a 1 gigawatt capacity, targeting a significant market share in the data center industry.
Source: Inc42 Media