Lightstorm bags Rs 700 Cr funding from NIIF IFL

Lightstorm, an I Squared Capital portfolio company, on Tuesday said it raised Rs 700 crore in funding led by NIIF Infrastructure Finance Limited (NIIF IFL), a financial institution that supports infrastructure projects in India. 

The company will use the capital to provide enterprises with network infrastructure and fuel their digital transformation initiatives. The funding will also help strengthen Lightstorm's connectivity business in India, allowing it to scale operations and meet demand for network solutions.

“We are thrilled to secure this funding from NIIF IFL, which validates our growth roadmap and reinforces the confidence that leading financial institutions have in Lightstorm's vision,” said Amajit Gupta, Group CEO and MD, Lightstorm, in a statement.

“This partnership will fuel our growth plans, allowing us to tap into expansion, new opportunities, and unlock our business potential. As AI and data centre growth reshape India’s digital ecosystem, this funding will enable us to build the robust connectivity backbone required to support this transformation,” he added. 

The startup began its India operations in 2020 and has built over 30,000+ kms of fibre network across India and a capacity of around 700 Tbps, currently serving over 100 customers. Lightstorm will also deploy the funds to expand its network footprint and improve 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.  The company focuses on delivering network solutions that offer secure, and scalable connectivity, enabling integration across cloud and data center environments.