India-based IT infrastructure services provider NxtGen has received $13.5m in series B funding from investors including Intel Capital, the corporate venturing arm of semiconductor company Intel, according to the Economic Times.
International Finance Corporation (IFC), the private sector investment division of the World Bank Group, and investment and consultancy firm Axon Partners Group also took part in the round.
IFC was originally reported, in March 2015, to be considering $20m investment in combined equity and debt financing for NxtGen.
Founded in 2013, NxtGen offers data centre co-location and enterprise cloud services, web hosting and technical services. The company currently operates two data centres in India – one in Mumbai and the other in Bengaluru.
The capital injection will be used to complete the construction of NxtGen’s infrastructure in Bengaluru and support its international expansion plans. Intel Capital previously provided $8m in series A capital for NxtGen in 2013.