CloudExtel raises ₹200 crore to boost AI-ready infra, expand metro cities’ fibre network

CloudExtel has raised ₹200 crore in debt from leading private sector banks to expand its metro fibre network and build infrastructure to support rising AI-led data demand. The deal is one of the first instances of project financing for a fibre network by lenders.

The company, in a press release, said its existing shareholders have also put in additional equity on a proportionate basis. CloudExtel said the funds will be used to speed up network rollout and strengthen its presence in major metros.

Kunal Bajaj, CEO and Co-Founder of CloudExtel, said,…