Netmagic Solutions raised Rs. 70 crores. ($12.5M) Nokia Growth Partners and Cisco Systems led the funding round for the India-based provider of managed information-technology hosting services provider. Existing investors Fidelity International and Nexus Venture Partners participated.
Netmagic Solutions, India’s leading Managed IT Hosting Services provider, today announced that it has raised Rs. 70 crores in a financing round led by Nokia Growth Partners and Cisco Systems (NASDAQ: CSCO). Existing investors Fidelity International and Nexus Venture Partners also participated in the round. The funding will enable Netmagic Solutions to increase its datacenter footprint in Tier – I cities across India.
“We are delighted to have raised fresh capital from Nokia Growth Partners and Cisco, and their industry expertise and global experience will help Netmagic as we continue our growth in managed hosting and cloud computing. Their investment reinforces our industry and technological leadership and the potential for this market in India. We will utilize this round of funding to increase our datacenter footprint and increase investment in R&D efforts for our Cloud Computing platform,” said Sharad Sanghi, Managing Director and CEO, Netmagic Solutions.
“The growth of internet traffic in India and willingness of Indian companies to adopt managed hosting are driving demand for high quality, carrier independent data center solutions. Nokia Growth Partners invests in leading technology companies with significant potential for future growth and industry leadership. We believe Netmagic fits this profile well and look forward to working with their management as they continue to build industry leading managed service solutions.” said Upal Basu from Nokia Growth Partners.
About Netmagic Solutions
Netmagic Solutions is India’s leading Managed IT Hosting Service Provider, specializing in Internet Data Center & Managed Hosting, Infrastructure Management, Managed Security, Cloud Computing, Application Hosting, Messaging & Collaboration, Disaster Recovery & Availability and Professional Services.
Netmagic Solutions is ISO 27001 and ISO 9001:2008 certified and its processes are designed as per ITIL framework. Combining world class Internet Data Centers with advanced technology and professional service capabilities, Netmagic Solutions delivers mission critical hosted applications for over 900 of the world’s best-known enterprises from multiple locations in a secure and seamless manner.
Netmagic has multiple carrier-neutral Tier III+ datacenters located in Mumbai, Bangalore, and Chennai as well as a virtual data center in the United States. These are equipped with best-in-class infrastructure, world-class services, tools and skilled personnel, giving its customers the option to host their applications in any of these centers. Netmagic assures mission-critical support to its customers in association with its ecosystem of channel and alliance partners.
About Nokia Growth Partners
Nokia Growth Partners is the premier venture investor focused on growth stage companies in the mobile industry. With $350M under management, Nokia Growth Partners invests in companies and people that are changing the global face of mobility, communications and the Internet. Nokia Growth Partners offers a global perspective and deep network in the mobile industry and works closely with Nokia to facilitate successful partnerships between Nokia and portfolio companies. Nokia Growth Partners has offices in Menlo Park, Helsinki, Beijing and New Delhi. Visit www.nokiagrowthpartners.com for more information.