CtrlS raises $50 Million in first round funding

Hyderabad: Hyderabad based data center business solution company CtrlS Data Centers, founded by P Sridhar Reddy, has raised $50 million (250 crore) from an undisclosed PE player, group companies and from promoters in its first round of funding. Moreover, the company is in discussion with financial institutions to raise $49 million more through debt. The new fund is expected to come in two months.

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This investment attracted by CtrlS is one the biggest amount being raised in the data center space, so far, in the county. CtrlS is planning to invest $50 million in expanding the data center capacity in three more cities in India. The company is promoted by $150 million Pioneer Group along with IDBI and Och-Ziff, an institutional asset management firm. Started operation in February 2008, CtrlS serves large multinational customers, financial institutions and telecom companies.

"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," said Sridhar Reddy, Chairman and Managing Director of CtrlS."India needs carrier neutral data centers and facilities to cater to the growing needs of enterprises," he added.