New Delhi-based AI-focused cloud provider E2E Networks Ltd. today announced the closing of a strategic investment round, securing Rs 420.51 crore through a preferential issue of equity shares.
“The Board of Directors approved preferential issue of up to 24,81,592 equity shares at an issue price of Rs 1,694.50 per share, raising an aggregate proceeds of Rs 4,20,505,7644 (Rs 420.51 crore),” it said. informed company in an exchange presentation.
E2E Networks said the investment was led by a diverse group of investors, including key members of the promoter group and a broad range of public investors.
E2E networking offerings
E2E Networks offers advanced cloud GPUs such as HGX H100, A100 and L4OS, along with high-end InfiniBand-powered configurations such as 64xH100 and 256xH100.
E2E Cloud also features an advanced AI development platform, TIR, which enables developers to train and deploy foundational AI models.
Purpose of fundraising
The company will use the capital raised to accelerate the growth of its AIFirst cloud platform, enhancing its ability to support advanced machine learning and AI-powered applications.
“The capital raised will enable us to enhance our cloud infrastructure, allowing us to continue to deliver unmatched value to our customers and support the next wave of AI-driven innovation in India. Our recent addition to the Ministry of Electronics and Information Technology (MeitY)’s team of experts further cements our commitment to providing secure and compliant cloud solutions tailored to the needs of both the public and private sectors,” said Tarun Dua, Co-Founder and CEO, E2E Networks.
Focused on accelerated cloud infrastructure expansion
E2E Networks plans to invest in expanding its accelerated cloud infrastructure, focusing on next-generation cloud GPUs and GPU clusters, which are critical for AI and machine learning workloads.
The company said the investment will enable it to support the scaling needs of startups, enterprises, the public sector and research institutions as they navigate the era of generative AI and machine learning.
Additionally, the investment will further strengthen E2E Networks’ cloud platform, particularly through the enhancement of TIR, a cutting-edge low-code AI development platform, the release said.
This capital increase was advised exclusively by InCred Capital, the investment banking division of Incred Group.
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