Intel Capital has invested more than Rs 50 crore in a Bangalore-based start-up, NxtGen Datacenter and Cloud Technologies.
The sizeable investment by the venture capital arm of the world's largest computer chip-maker signifies the growth potential for such services in Asia's third-largest economy.
For NxtGen, the $9 million (Rs 54 crore) investment is the first round of funding, and is in return for an undisclosed equity stake, a senior executive at the company told ET on condition of anonymity. A senior official at Intel Capital confirmed the investment.
Demand for data centre and storage services, a market that used to be dominated by leading telecom services provides such as Airtel, Reliance Communications and Tata Communications, has been growing in India as large corporations including banks and media companies look to outsource storage of basic corporate data.
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