E2E Networks, a cloud provider specializing in AI, has successfully raised INR 420.5 Cr (about $50 Mn) through a strategic investment by issuing equity shares.
E2E Networks intends to utilize the newly acquired funds to expedite the expansion of its AI-centric cloud platform, thereby bolstering its capacity to facilitate sophisticated machine learning and AI-powered applications.
This venture involved a consortium of investors, comprising both members of the promoter group and additional public investors.
The company’s board has authorized the issuance of up to 2,481,592 equity shares at a price of INR 1694.50 per share, in order to raise a total of INR 420,50,57,644 (INR 420.5 Cr).
Read also – Dopplr Secures $750K Funding from Cornerstone Ventures
E2E Networks is a cloud startup that specializes in solid-state drive (SSD) technology. It provides private and public CloudOps platforms to help organizations transition their operations to the cloud and effectively manage them.
E2E Networks has announced its intention to invest in the expansion of its accelerated cloud infrastructure, with a specific focus on next-generation cloud GPUs and GPU clusters. These resources are essential for handling AI and machine learning workloads.
About E2E Networks
Founded in 2009 by Mr. Tarun Dua, E2E Cloud is among India’s fastest-growing accelerated computing platforms in India.
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
