Key Points:
- Mumbai-based CloudExtel, a Network-as-a-Service provider, secures Rs 200 crore in external debt funding.
- NIIF Infrastructure Finance Limited (NIIF IFL) contributes Rs 150 crore, while Aditya Birla Finance Limited (ABFL) adds Rs 50 crore to the funding.
- The funding aims to bolster CloudExtel’s presence in fiber and small-cell deployment across India.
- CEO Kunal Bajaj highlights the partnership’s importance, citing the growth potential of India’s digital landscape.
- Previous corporate changes include a 51% stake acquisition by Macquarie Capital in May 2023, followed by Advencap’s partial acquisition of Macquarie Capital’s shares in October 2023.
- CloudExtel offers various infrastructure services, including small-cell hosting, Fiber To The Home (FTTH), intra-city fiber, and virtualized networks.
- The company operates in 475 cities and towns in India, with 6,000 small cell sites and over 7,000 kilometers of deployed fiber.
- CloudExtel plans to expand its fiber and wireless infrastructure fivefold in the next five years, focusing on 4G, 5G, and data center advancements.
Mumbai-based Network-as-a-Service (NaaS) provider CloudExtel has secured Rs 200 crore in external debt funding. NIIF Infrastructure Finance Limited (NIIF IFL) contributed Rs 150 crore, while Aditya Birla Finance Limited (ABFL) provided an additional Rs 50 crore.
This financial boost is earmarked for enhancing CloudExtel’s presence in fiber and small-cell deployment across India. Kunal Bajaj, CEO and Co-founder of CloudExtel, emphasized the significance of this partnership with NIIF IFL and ABFL, stating, “India’s digital landscape is poised for substantial growth with emerging technologies set to revolutionize the ecosystem.”
Bajaj further highlighted that this debt capital infusion, alongside previous investments from Macquarie Capital and Advencap, strengthens their capacity to seize market opportunities and expand network infrastructure deployment.
CloudExtel recently underwent significant corporate transformations. In May 2023, the company sold a controlling 51% stake to Macquarie Capital for $100 million, acquiring Bombay Gas Company’s shares. Later, in October 2023, Advencap, a digital infrastructure ventures investor, acquired a portion of Macquarie Capital’s shares.
The company offers various infrastructure services, including small-cell hosting, Fiber To The Home (FTTH), intra-city fiber, and virtualized networks, catering to telecom operators, internet service providers, data centers, and enterprises. With a footprint across 475 cities and towns in India, CloudExtel operates 6,000 small cell sites and has deployed over 7,000 kilometers of fiber.
Looking ahead, CloudExtel aims to expand its fiber and wireless infrastructure fivefold in the next five years, focusing on advancements in 4G, 5G, and data centers.
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