CloudExtel secures Rs 200 Cr debt to expand fibre and data-center connectivity network

Mumbai-based CloudExtel has raised Rs 200 crore in debt from a leading private-sector bank to expand its digital infrastructure and grow its AI-ready connectivity solutions, the company said on Wednesday.

In addition to the debt funding, CloudExtel’s existing shareholders have also invested more equity to support its expansion, showing their continued confidence in the company’s strategy and growth plans.

The new funds will help CloudExtel launch its Data Center Interconnect (DCI) network, starting in Mumbai and later expanding to Bengaluru, Hyderabad, Delhi, Pune and other major cities. This network will offer high-capacity, low-latency, and reliable links between data centres—essential for AI workloads, cloud services, and content delivery.

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“This fundraise marks a significant breakthrough in our journey to transform India’s connectivity ecosystem. The trust placed in us underscores our strong financialdiscipline and innovative business model. These funds will help us scale more rapidly, deepen our infrastructure presence, and continue driving impact through collaboration and technology-led efficiency," Kunal Bajaj, CEO and Co-founder of CloudExtel, said.

"Our upcoming Data Centre Interconnect network in Mumbai, and subsequent rollout in other cities, will further strengthen our competitive positioning and ability to deliver integrated solutions for India’s digital future. DCI is powering the AI revolution, and this initiative is a step towards our aspiration to become one of the largest metro intra-city network providers in the country,” he further added.

CloudExtel, India’s first full-stack NaaS operator, builds and manages shared fibre networks, small cells and enterprise connectivity for telecom companies, ISPs, data centres and businesses. Its model reduces the heavy upfront costs of network deployment by letting partners use infrastructure on a pay-as-you-go basis.

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So far, the company has installed over 6,500 small cells in 500 cities, laid 12,000 km of fibre, and enabled FTTH access for more than one million homes. It also supports 4G network densification and India’s ongoing 5G rollout.

Backed by Macquarie Capital and Advencap, CloudExtel says the new funding will help expand urban connectivity infrastructure and strengthen its position as a leading metro intra-city network provider.

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