The Hindu Business Line : CtrlS gets Rs 250 cr PE funding

Hyderabad, Dec. 3 CtrlS Data Centers Ltd, a start-up data centre business solutions company, has completed the first round of equity funding worth Rs 250 crore.

The equity contributions came from an undisclosed PE player, group companies and from promoters. After this, the company is looking at raising Rs 245 crore more through debt.

The company is in talks with financial institutions to raise this debt. “We are expecting to close the same in next two months. We will invest the Rs 250 crore in expanding the data centre capacity in three more cities in the country,” Mr Sridhar Reddy, Chairman and Managing Director of CtrlS, said.

CtrlS Data Centers Ltd, which handles Internet data centre business, is promoted by the Rs 750-crore Pioneer Group along with IDBI and Och-Ziff, an institutional asset management firm.

CtlS, started its operations in February 2008, serves large multinational customers, financial institutions and telecom companies.

Asked why the PE player chose to invest in the company despite the depressive conditions, he said: “CtrlS is the first one to establish tier IV data centre and first one to be certified as ISO 20000 & 27000. In a short period of 8 months, over 40 clients have been signed,” he said.

“Most of them are very long-term contracts going up to 10 years and from some of the largest organisations in the world. India needs carrier neutral data centres and facilities to cater to the growing needs of enterprises. CtrlS is ideally positioned to address the same. And hence the investments came in,” he said.

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