Pi Datacenters is planning to soon raise about 550 crore in a Series B round. The firm had raised 150 crore in Series A in December last year. The enterprise-align data center is availing the services of a Singapore-headquartered investment banker for the series-B funding. The proceeds of the funding will help the company support the second phase of Pi Amaravati and the new centers in Kochi and Naya Raipur, where all three data centers will also act as redundant centers for each other. As it opened the facility, the firm has signed agreements with over 10 companies including Power Grid, IRCTC, Mahindra Finance, Deutsche Bank, SAR Group, Yatra.com, and SnapBizz.

'We will utilize the proceeds for the expansion of our facility at Mangalagiri (near Andhra Pradesh capital Amaravati) that we launched last week. We have so far invested 200 crore on the facility, named Pi Amaravati. The same investor might also join the Series B round. The facility will have 5000 racks in the next 12–18 months, from the current 1200. We will be setting up two more data centers at Naya Raipur and Kochi with an initial investment of '100 crore each.'

Kalyan Muppaneni,
Founder and CEO
Pi Datacenters


 

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