Pi Datacenters, an enterprise class datacenter and cloud service provider, has raised $23 million in a funding led by Epsilon Venture Partners, and the round also saw participation from a major Australian private equity group.
The round was led by Epsilon’s General Partner based on the ground in India – Mahesh Vaidya – who will be joining the company’s board as part of the deal, the company said in a statement.
Epsilon, the pan-Asian technology focused fund manager, will be actively involved in assisting with the build and growth of Pi, having already introduced local blue-chip prospective clients, the statement added.
Pi is headquartered at Amaravati, the capital of the newly re-organised state of Andhra Pradesh.
“Epsilon’s technology investment experience across the globe is of significant strategic value that would pave the way for global partnerships in ensuring that Pi brings state-of-the-art cloud infrastructure capability to India,” said Kalyan Muppaneni, Founder & CEO of Pi,
“The funds raised would add to help us roll out our first few datacenters across India. As more users go digital in India, lower latency is paramount for better user experience, which is possible only if the digital infrastructure is located within the country,” Muppaneni said.
Pi’s product portfolio is designed to cater to enterprises across industry verticals, ranging from tailored industry based cloud enabled solutions around Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Disaster Recovery as a Service (DRaaS), to off-the-shelf services like co-location, managed hosting and managed services.
“The Datacenter and Cloud Infrastructure space in India is poised for robust growth over the next decade as evidenced by the trends observed in mature economies such as the US and Europe. The majority of countries are already emphasizing data sovereignty as a vital element of a nation’s security with appropriate measures in place,” said Vaidya.
“India initiated moves in this area a few years ago, with the mandate for local hosting of all its citizens’ financial and personal data. Moreover, fundamentally, we believe that India will double its internet user base in the next 3-5 years and this should position Pi very well to capitalize on this secular growth opportunity,” Vaidya added.
Epsilon has offices in Hong Kong, Mumbai, Seoul, Taipei and Tokyo, and targets financially attractive opportunities in product innovation in North Asia and service innovation in South Asia.