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August 13, 2013

Deal Alert: Intel Capital invests Rs.54-Cr in NxtGen Datacenter

Intel Capital has invested $9 million (Rs.54 crore) in Bangalore-based start-up NxtGen Datacenter and Cloud Technologies that offers data storage services to corporations in India. This is the first round of institutional investment for NxtGen.

NxtGen was founded in May last year by AS Rajgopal, who has previously worked with Tulip Data City and Reliance Communication's data center business. The company has a cloud data center in Bangalore and plans to launch another in Delhi and Mumbai. The company is targeting revenues of Rs.500 crore in next three years and has acquired around ten acres of land in the outskirts of Bangalore for setting up an advanced facility.

Source: Economic Times

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