CloudExtel, a full-stack Network-as-a-Service (NaaS) provider, has raised ₹200 crore in debt funding from a leading private sector bank.
In addition to the debt raise, CloudExtel’s existing shareholders have made a follow-on equity investment on a proportionate basis to support the company’s expansion plans.
The funds raised will be used to accelerate its mission to redefine how digital infrastructure is built, shared and scaled across India, enabling AI-ready connectivity for telecom operators, enterprises, and data centers.
The capital will also power CloudExtel’s upcoming Data Center Interconnect (DCI) network initiative, starting in Mumbai and expanding across major metro cities including Bangalore, Hyderabad, Delhi, Pune, and others.
The DCI will provide high-capacity, low-latency, redundant connectivity between data centers critical for supporting AI workloads, cloud computing, and digital content delivery.
Founded in 2014 by Kunal Bajaj, CloudExtel is a full-stack Network-as-a-Service (NaaS) provider, delivering next-generation digital infrastructure solutions such as Small Cell Hosting, Fiber Connectivity, FTTH, and Shared RAN. At the forefront of India’s connectivity revolution, CloudExtel enables telecom operators, ISPs, data centers, and enterprises to meet surging data demand through shared, scalable, and future-ready networks.
CloudExtel’s differentiated Network-as-a-Service (NaaS) model. Unlike traditional infrastructure approaches that require high upfront investments, CloudExtel’s NaaS offers bundled fiber, small cells, and edge connectivity in flexible consumption-based models, enabling partners to scale faster, reduce CapEx and accelerate next-generation connectivity for India’s digital economy.
In 2023, Macquarie Capital, the corporate advisory, capital markets, & principal investment arm of Macquarie Group, and Advencap, a strategic investor in digital infrastructure, acquired a majority stake in CloudExtel to enhance our portfolio of services. In 2024, we secured our first external debt from NIIF Infrastructure Finance & Aditya Birla Finance.
Kunal Bajaj, CEO and Co-founder of CloudExtel, said, “This fundraise marks a significant breakthrough in our journey to transform India’s connectivity ecosystem. The trust placed in us underscores our strong financial discipline 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. Our upcoming Data Center 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.”
