851    

Startup funding

Pi Datacenters Raises $90 Mn in Series B Funding.

02nd, August 2017    -    Startup funding

Pi Datacenters has raised $90 Mn in a Series B funding round from existing and new investors. Details about the investors that participated in the deal have not been disclosed.

The Series B funding will be utilised to support the second phase of the new Pi Amaravati facility. The company will also be spending a portion of the funding on the proposed construction of data centres in Kochi and Naya Raipur.

At present, Pi’s total capacity stands at 1,200 racks. Each of the proposed data centres will have around 2,200 racks, and will be backed by an investment of $31.2 Mn (INR 200 Cr).

Established in 2014, Pi is currently headquartered in Andhra Pradesh’s de facto capital, Amaravati. Pi boasts a 10-acre modular greenfield infrastructure in Amaravti’s Vijayawada region. At present, it offers cloud-enabled as well as tailored industry-based hosting solutions to enterprises across various industry verticals.

Its product portfolio also includes Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Disaster Recovery as a Service (DRaaS). In the last three years, it has served both government and private-sector clients like IRCTC, Deutsche Bank, Mahindra & Mahindra Finance, Yatra.com, Snapbizz, Konsole Group, Acute, and Net Spider.

Prior to this round, Pi Datacenters raised $23 Mn in Series A funding from Singapore-based Epsilon Ventures. As part of the investment deal, Epsilon General Partner, Mahesh Vaidya, joined Pi’s Board of Directors.

Categories: Startup Event , Startup , Startup community , News , Food tech , Legal tech startup , HR Tech , Tech Startup , Guest blog , Featured entrepreneur , FinTech , International news , International Startup , Analytics , Product review , Social enterprise , Health care , My journey , Co working space , Fashion , Sponsored , F&B