Pi Datacenters to raise ₹550 crore for expansion

Pi Datacenters, a data centre and Cloud service provider, is planning to soon raise about ₹550 crore ($90 million) in aSeries B round. The firm had raised ₹150 crore in Series A in December last year.

“We will utilise the proceeds for the expansion of our facility at Mangalagiri (near Andhra Pradesh capital Amaravati) that we launched last week. We have so far invested ₹200 crore on the facility, named Pi Amaravati. The same investor might also join the Series B round,” Kalyan Muppaneni, founder and Chief Executive Officer of Pi Datacenters, told BusinessLine .

The facility will have 5,000 racks in the next 12-18 months, from the current 1,200. “We will be setting up two more data centres at Naya Raipur and Kochi with an initial investment of ₹100 crore each. The centres will have 2,200 racks each,” he said.

“These two centres will act as both primary and redundancy centres for the other two centres in Pi’s network.”

Muppaneni claimed that Pi Amaravati was Asia’s largest Uptime Institute Tier-IV Certified Data Centre.

The centre offers hosting, co-location, white space and custom data services to clients at the facility. Talking about white label services (wherein a third party can take some space and market it as its own), he said though it gave a smaller revenue pie, it gave volumes.

As it opened the facility, the firm has signed agreements with over 10 companies including Power Grid, IRCTC, Mahindra Finance, Deutsche Bank, SAR Group, Yatra.com and SnapBizz.

“Digitisation and Goods and Services Tax will give impetus to the data centre business in India,” Muppaneni said.

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