iBUS Network and Infrastructure, a digital infrastructure company, has secured approximately Rs 280 crore ($34 million) in funding from the International Finance Corporation to facilitate its international expansion.
Morgan Stanley, the National Investment and Infrastructure Fund (NIIF), and High-Net-Worth Individuals (HNI) were among the initial investors in the company, which specializes in the provision of Wi-Fi managed services and in-building telecom network solutions.
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According to Subash Vasudevan, Chief Business Officer of iBUS Network, Morgan Stanley and HNI investors have exited the company with a return of 20-45%.
Subash Vasudevan, Chief Business Officer, iBUS Network, said: “IFC investment is one of the biggest milestones for iBUS. They have invested about Rs 280 crore, which is $34 million. With this strategic investment, our focus will be on international expansion. The fund will be equally distributed between organic and inorganic expansion,”
About iBUS
Founded in 2010 by Ram Sellaratnam, iBUS delivers digital infrastructure solutions, with a full suite of offerings that enable networks for businesses and institutions.
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