CloudExtel Secures Funding to Expand Network Infrastructure
CloudExtel, a Mumbai-based Network-as-a-Service (NaaS) provider, has raised ₹200 crore in debt financing from a leading private bank to expand its small-cell and fibre-optic network infrastructure, according to media reports.
Existing shareholders also participated through a proportional follow-on equity investment, reflecting their confidence in the company’s next growth phase.
The funding will support the development of CloudExtel’s upcoming Data Centre Interconnect (DCI) network, which will deliver high-capacity, low-latency, and redundant connections between data centres, crucial for advanced computing, cloud services, and digital content delivery.
Kunal Bajaj, co-founder and CEO of CloudExtel, said the capital will allow the company to scale rapidly, enhance its network infrastructure, and continue driving efficiency through technology and collaboration.
He highlighted that the new DCI network in Mumbai, along with planned expansions in other cities, will strengthen CloudExtel’s competitive advantage and its ability to provide integrated solutions for India’s growing digital ecosystem.
Market Potential and Strategic Impact
“India’s digital landscape is set for significant growth, with emerging technologies transforming the ecosystem. This partnership with NIIF IFL and ABFL represents a major milestone, as the debt financing complements prior investments from Macquarie Capital and Advencap. The credit rating also underscores our commitment to strong governance and financial stability,” Bajaj added, as reported by the Economic Times.
The company intends to use this capital to reinforce its presence in Fibre and Small Cells deployment across key regions.
CloudExtel noted that only 33% of telecom towers in India are fiberised, compared to over 70% in leading global markets, with demand expected to rise as data centres and Fibre-to-the-Home (FTTH) services expand at compound annual growth rates of 40% and 27%, respectively, in the top 10 cities.
This latest debt financing follows CloudExtel’s equity investments from Macquarie Capital and Advencap in the 2024 fiscal year, further strengthening the company’s financial position and growth potential.
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