Lightstorm secures $80m funding from NIIF Infra Finance #IndiaFinance

Lightstorm, an I Squared Capital portfolio company, Tuesday announced that it has raised nearly $80 million (Rs 700 crore) in a funding round led by NIIF Infrastructure Finance Limited (NIIF IFL), a financial institution that supports infrastructure projects in India.

The company will use the proceeds to provide enterprises with network infrastructure to fast-track their digital transformation initiatives. The funding will also help strengthen Lightstorm’s business of connectivity, enabling the company to scale its operations and support the increasing demand for high-speed, reliable network solutions, per a statement.

“This partnership will fuel our growth plans, allowing us to tap into expansion, and new opportunities and unlock our business potential. As AI and data center growth reshape India’s digital ecosystem, this funding will enable us to build the robust connectivity backbone required to support this transformation,” said Amajit Gupta, Group CEO & MD, Lightstorm.

Lightstorm started its India operations in 2020, and claims to have built a 30,000+ km fibre network across India with a capacity of around 700 Tbps, which currently serves over 100 customers. The company will also use the funds to expand its network footprint and enhance operational capabilities to meet the needs of large enterprises across the country.

Founded by Amajit Gupta and Ranjan Banerjee, Lightstorm is a cloud and data centre networking solutions provider serving hyperscalers, cloud-native companies, and large enterprises across the Asia-Pacific region.