Mumbai, July 15 -- Yotta Data Services said it had raised US$150 million (US$150 mn) from non-institutional investors at a valuation of about Rs 370 billion (Rs 370 bn) to expand its artificial intelligence infrastructure and support pre-IPO growth plans. The company said the capital raise was intended to strengthen its balance sheet through growth capital. The valuation was attributed to business fundamentals, long-term contracted revenues and execution visibility.
Yotta said the funds were raised over the last few months and comprised entirely primary capital with no promoter offer for sale. All the capital was being deployed into the company to accelerate expansion of cloud and data centre capacity. The company said it continued to engage with high-quality long-term institutional investors while keeping its pre-IPO timeline under review.
Company statements indicated that discussions with investors and reports in the recent past reflected interest in financing the expansion through global funds or a potential listing, without disclosing a firm timetable. Yotta said it expected the valuation to strengthen as it adds AI infrastructure capacity and secures new customer contracts. The firm said its pre-IPO and IPO roadmap remained on track.
Operationally, Yotta said it planned to scale its AI cloud to more than 40,000 Nvidia Blackwell GPUs over the next four months and to around 85,000 GPUs by the end of the current financial year. The company said that level of scale would make it one of the world's largest AI compute platforms outside the United States and China. The expansion formed part of a strategy to serve global model builders and inference providers.
Yotta said it would continue to support sovereign cloud and artificial intelligence initiatives in India while positioning the country as a producer of AI infrastructure and intelligence rather than merely a consumer. The company indicated that the fresh capital would be deployed to accelerate growth and execution of its long-term plans.
Published by HT Digital Content Services with permission from Construction World.