iBUS Network and Infrastructure, a digital infrastructure solutions provider, has raised Rs 280 crore (or around $34 million) in funds of the International Finance Corporation (IFC), a member of the World Bank Group.
With this, IFC has acquired a minority stake in the Bengaluru-based company.
Notably, this is IFC’s first investment in Infratech in the Asia-Pacific region and aligns with the organization’s broader strategic focus on improving access to high-quality digital connectivity and supporting India’s digital transformation.
What does the iBUS network do?
iBUS Network & Infrastructure is an Indian digital infrastructure solutions provider and specialist in deploying and operating seamless, neutral cellular and Wi-Fi connectivity across large commercial properties such as IT parks, airports, hospitals, government institutions, hotels, shopping malls and educational campuses.
The company claims to have a presence in over 1,500 sites covering nearly 1 billion square feet of leased area across 40 cities in India.
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Strengthening plans for further growth
According to the company’s statement, the strategic partnership will further strengthen iBUS’ plans for domestic and international growth, enhancing its ability to deliver cutting-edge solutions for in-building connectivity, outdoor small cells (one access point per radio), managed Wi-Fi services and smart Internet of Things (IoT).
“We are delighted to welcome IFC as a key partner in our journey towards global expansion and innovation,” said Subash Vasudevan, Chief Commercial Officer, iBUS Network.
“IFC’s investment aligns with our vision to transform the digital infrastructure landscape. With its unparalleled expertise and global reach, IFC will play a pivotal role in helping us scale our operations, enter new markets, and deliver world-class digital solutions,” Vasudevan said.
He further said that the partnership marks an important milestone for the company as it aims to accelerate growth, enhance technological capabilities and strengthen its position in the industry.
Leveraging IFC’s gender advisory services
Under this partnership, iBUS Network will also leverage IFC’s gender expertise to increase women’s representation at all levels of the organization.
iBUS said it aims to continue to scale its operations and extend its market presence beyond India and into emerging sectors including IoT and other advanced digital infrastructure solutions.
“We are delighted to welcome IFC as a partner alongside the National Infrastructure Investment Fund (NIIF) on the iBUS network,” said Vinod Giri, Managing Partner of the NIIF Master Fund.
“IFC’s investment is not only a testament to iBUS’s strong growth trajectory and solid fundamentals, but also underscores the pivotal role that digital infrastructure will play in India’s growth story. At NIIF, we are committed to backing companies like iBUS that are transforming India’s digital landscape and driving sustainable growth.”
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