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CtrlS Datacenters to raise $300 million amid AI-fuelled race for digital infra

Livemint

Livemint · 1y ago

CtrlS Datacenters to raise $300 million amid AI-fuelled race for digital infra

Hyderabad-based CtrlS Datacenters plans to raise $300m in debt to expand its data centres across India, driven by anticipated demand for artificial intelligence. The company also aims to raise $2bn in the next five years to fuel a 350 MW expansion, including its entry into Southeast Asia and West Asia. CtrlS Datacenters currently has 12 data centres in India, with a total 234 MW capacity. The rise in deployment of AI and generative AI in enterprises is expected to increase the computing capacity required and the demand for data centres.

Related News

Gujarat CM lays foundation For CtrlS' GIFT city datacenter

IndianStartupNews

IndianStartupNews · 1y ago

Gujarat CM lays foundation For CtrlS' GIFT city datacenter

CtrlS Datacenters has begun construction on its new datacenter facility in GIFT City, Gujarat, with an investment of over Rs 250 crore. The project is expected to create 1,000 jobs directly and indirectly. The datacenter will serve the digital needs of various industries, particularly the BFSI sector, in Gujarat. CtrlS Datacenters plans to enhance the digital infrastructure in the state and expand its managed services. The company has also announced a $2 billion investment plan and is exploring new markets in Southeast Asia and the Middle East.

IndiaAI plan moves forward with over 17,000 GPUs successfully installed - The Economic Times

Economic Times

Economic Times · 1m ago

IndiaAI plan moves forward with over 17,000 GPUs successfully installed - The Economic Times

The IndiaAI Mission has successfully installed over 17,300 GPUs out of the 34,333 proposed in its initial rounds, aimed at building a scalable cloud platform for AI model training. While Yotta and NextGen have made significant progress, Jio Platforms and CtrlS Datacenters face delays. The government incentivizes local LLM development, and more GPU installations are anticipated. The initiative is crucial for enhancing India's AI research and startup ecosystem.

Ola Krutrim, Wow! Momo, Dream Sports, Cricbuzz in news

VCCircle

VCCircle · 4m ago

Ola Krutrim, Wow! Momo, Dream Sports, Cricbuzz in news

Bhavish Aggarwal, the founder of Ola Krutrim, is reportedly seeking to raise up to $300 million for his AI venture, revising previous plans to raise $500 million amid lukewarm investor interest. Goldman Sachs, JP Morgan, and SBI Capital Markets are assisting in this fundraising endeavor.

Flexiloans to raise $35 million in a fresh equity

Economic Times

Economic Times · 1y ago

Flexiloans to raise $35 million in a fresh equity

Flexiloans, a digital lending platform for small businesses, is seeking to raise around Rs 300 crore ($35 million) in a fresh equity round. The Mumbai-based startup is in talks with potential investors such as Accion and Fundamentum for the funding. The funds will be used to strengthen Flexiloans' lending business and raise fresh debt. The company's previous major equity infusion was in 2022 when it raised $30 million. Flexiloans aims to capitalize on the demand for small business-focused lending amid the challenges faced by the digital lending sector during the pandemic.

Data storage cos in a sweat over need to stay cool

Economic Times

Economic Times · 1y ago

Data storage cos in a sweat over need to stay cool

Data centres in western and northern India are facing increased operational costs due to the need for additional power and cooling equipment to combat soaring temperatures. Companies such as Yotta Data Services and CtrlS Datacenters are adopting alternative cooling solutions and improving power consumption efficiency. Erratic power supply is causing challenges, leading to a rise in operating expenses for companies like ESDS Software Solutions. The heatwave in the country is particularly impacting data centres in North India, but measures such as liquid cooling and renewable energy sources are being employed to mitigate the effects.

Bhavish Aggarwal's Krutrim Lays Off Over 100 Employees Amid Slow Traction, Funding Delays – Outlook Business

OutlookIndia

OutlookIndia · 1m ago

Bhavish Aggarwal's Krutrim Lays Off Over 100 Employees Amid Slow Traction, Funding Delays – Outlook Business

Bhavish Aggarwal's AI venture, Krutrim, has laid off over 100 employees, primarily from its linguistics team, amid stalled fundraising and low user adoption. Despite positioning its AI product ‘Kruti’ as an Indian alternative to ChatGPT, the company struggles with slow market traction and senior-level departures. Initially planning to raise $500 million, Krutrim reduced its target to $300 million due to tepid investor interest. The company is refocusing on local and multilingual AI capabilities.

Malaysian fintech major TNG Digital eyes IPO in next 2-3 years

Economic Times

Economic Times · 11m ago

Malaysian fintech major TNG Digital eyes IPO in next 2-3 years

Malaysian fintech company TNG Digital is considering an IPO within the next few years that could raise over $300 million. The company, which owns Touch 'n Go eWallet and offers various financial services products, raised $179.3 million in equity funding last year. TNG Digital is backed by investors including Lazada, Ant Financial, and AIA. The potential IPO proceeds would be used for business expansion in Malaysia and Southeast Asia. TNG Digital currently has more than 20 million verified users and facilitates payments for over two million merchants.

Another High-Profile OpenAI Researcher Departs for Meta

Wired · 1m ago

Jason Wei, a researcher from OpenAI who focused on o3 and deep research models, is transitioning to Meta’s superintelligence lab, joining colleague Hyung Won Chung. Both worked on reinforcement learning and complex AI model training at OpenAI following stints at Google. Meta’s recent aggressive recruitment, offering up to $300 million over four years, highlights the competitive race in AI talent acquisition, particularly against OpenAI, which is also countering by hiring strategically.

Alpha Alternatives hits first close of maiden infra fund

VCCircle

VCCircle · 9m ago

Alpha Alternatives hits first close of maiden infra fund

Alpha Alternatives, led by Naresh Kothari, has achieved the initial closing of its inaugural infrastructure fund. The firm aims to raise $500 million as the fund's target corpus, with an option to raise an additional $250 million. Named Alpha Alternatives Build India, the infrastructure investment vehicle is set to support the development of infrastructure projects in the country.

Ultrahuman sprints towards $40-mn round with SoftBank | The Arc

The Arc Web

The Arc Web · 11m ago

Ultrahuman sprints towards $40-mn round with SoftBank | The Arc

Ultrahuman, a wearables company, is in talks to raise $30-40 million, potentially led by SoftBank Vision Fund, to enhance its product range, boost manufacturing, and expand into markets like the US and UAE. The company aims for a $300 million valuation, driven by interest in its AI-based software. However, the deal's finalization is not yet certain.

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