Morgan Stanley-backed iBus Group raises Rs 125 Cr from Nomura
This strategic investment will enable iBus Group’s consolidation and transformation of digital infra in Wi-Fi managed services and other value-added services.
The iBus Group, a Bengaluru-based telecom infrastructure and technology company, has raised an investment of Rs 125 crore from Nomura, a global financial services group.
This strategic investment will enable iBus Group’s consolidation and transformation of digital infra in Wi-Fi managed services and other value-added services. The funding will also enable it to expand the iBus Group’s presence globally through its subsidiaries in Singapore, Dubai and US, according to a press release.
“With this investment, we envision accelerating the convergence of protocols to amplify the experience of digital services for our customers. Currently, digital connectivity infrastructure is skewed towards urban and tier-I states/cities in India resulting in a huge digital divide. iBus will now build scale and eliminate inefficiencies to fast track the essential digitalization of our economy,” Director and CBO of iBus Group, Subash Vasudevan said.
Founded by Sunil Menon, Subash Vasudevan, and Ram Sellaratnam in 2010, iBus Group-owned multidimensional networks are deployed across around 1 billion sqft area with 750 sites in 52 cities. The aspect of managing Wi-Fi along with the existing business of building neutral host passive and active IBS networks across various venues in India, shall enable the iBus group to become one of the largest multi-dimensional connectivity network operators in the country. Additionally, the company will offer its Internet of Things (IoT) solutions to its existing and new customers on its connectivity platform.
Edited by Affirunisa Kankudti