Netmagic Solutions, an India-based Managed IT Hosting Services provider, has raised Rs. 70 crores in financing.
The round was led by Nokia Growth Partners and Cisco Systems (NASDAQ: CSCO), with participation from existing investors Fidelity International and Nexus Venture Partners.
The funding will enable the company to increase its datacenter footprint in Tier – I cities across India, as well as R&D efforts for its Cloud Computing platform.
Netmagic Solutions provides customers with the option to host their application in its multiple carrier-neutral Tier III+ datacenters located in Mumbai, Bangalore, and Chennai as well as a virtual data center in the United States. The company specializes in Internet Data Center & Managed Hosting, Infrastructure Management, Managed Security, Cloud Computing, Application Hosting, Messaging & Collaboration, Disaster Recovery & Availability and Professional Services.