27th Aug 2024 Delhi, India E2E Networks Ltd. (NSE: E2E), a leading AI-First and MeitY-empanelled Cloud Platform in India, today announced the successful closure of a strategic investment round, securing INR 420.51 crores through a preferential issue of equity shares. This significant capital infusion underscores E2E Networks’ commitment to advancing India’s AI/ML Cloud Platform, empowering enterprises, startups, and institutions across the nation.
The Board of Directors approved the preferential issue of up to 24,81,592 equity shares at an issue price of INR 1694.50 per share, raising an aggregate amount of INR 420,50,57,644 (INR 420.51 crores). This investment comes from a diverse group of investors, including key members of the promoter group and a wide array of public investors. The funds will be deployed to accelerate the growth of E2E Networks’ AI-First Cloud Platform, enhancing its capability to support advanced machine learning and AI-driven applications.
Commenting on the successful investment round, Tarun Dua, Co-Founder and Managing Director of E2E Networks, stated, “This investment is a significant milestone in our journey to becoming the leading AI-First Cloud Platform from India. The capital raised will enable us to enhance our cloud infrastructure, ensuring that we continue to deliver unparalleled value to our customers and support the next wave of AI-driven innovation in India. Our recent empanelment by the Ministry of Electronics and Information Technology (MeitY) further solidifies our commitment to providing secure and compliant cloud solutions tailored to the needs of both public and private sector.”
With this strategic capital infusion, E2E Networks is poised to further solidify its position as the cloud platform of choice for India’s burgeoning tech ecosystem. The India-born company 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. This will enable E2E Networks 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. This investment will also further strengthen E2E Networks’ cloud platform, particularly through the enhancement of TIR, a cutting-edge low-code AI development platform.
The preferential allotment includes significant contributions from both the promoter group and public investors, reflecting strong confidence in E2E Networks’ strategic direction and growth potential. Key investors include prominent figures and institutional entities known for backing high-growth tech ventures.