CloudExtel raises ₹200 crore to boost AI-ready fiber, metro networks

MUMBAI: CloudExtel, billed as India’s first full-stack Network-as-a-Service (NaaS) provider, has raised ₹200 crore in debt financing from a leading private-sector bank, marking one of the country’s first project-financed fiber network deals. The company said the funds will accelerate its expansion of AI-ready digital infrastructure and metro fiber networks.

Existing shareholders have also contributed proportionate follow-on equity to support CloudExtel’s growth plans, reaffirming confidence in its execution capabilities and business model.

CloudExtel will channel the capital into its upcoming Data Center Interconnect (DCI) network, beginning in Mumbai and scaling to Bengaluru, Hyderabad, Delhi, Pune and other metros. The DCI aims to provide high-capacity, low-latency connectivity between data centers to support AI workloads, cloud computing, and digital content delivery.

“This fundraiser marks a significant breakthrough in our journey to transform India’s connectivity ecosystem,” CEO and co-founder Kunal Bajaj said. “Our DCI rollout strengthens our competitive positioning and pushes us toward becoming one of the largest metro intra-city network providers.”

CloudExtel currently operates 6,500+ small cells across 500 cities, over 12,000 km of fiber, and provides FTTH access to more than one million homes