Yotta Data Services Private Limited is making headlines lately with its plans to raise $500 million in private credit. The startup is backed by real estate billionaire Niranjan Hiranandani and it is to build more data center parks. India’s growing digital ambitions and rising demand for cutting-edge infrastructure are evident from such steps.
The company is in talks with Oaktree Capital, Cerberus Capital, Davidson Kempner Capital and some more major private credit funds. The final deal is expected to materialize by early 2025. It is also keeping options open considering bank credit as a potential backup.
The growing need for high-performance computing and AI development are driving the massive capital hunt. Yotta has also partnered with Nvidia to get its data centers equipped with advanced computing capabilities. The facilities can help Indian businesses in creating their own AI solutions. Yotta is also at the core of India’s digital transformation as both data and AI are becoming important for competitiveness.
The efforts of Yotta simultaneously also highlight a broader trend in India’s private credit market. The $10 billion sector is now buzzing with activity. Global players are currently being witnessed competing with local firms to provide financial support to projects. Hence, more opportunities are on the card to secure required funds needed to scale by startups like Yotta.
Yotta’s vision perfectly aligns with India’s push for stronger digital infrastructure. The government is lately prioritizing more on tech-based growth. Startups like Yotta are stepping up the challenges and its fundraising effort can pave the path for similar projects.
