Lightstorm secures Rs 700 crore funding to expand network and innovation

I Squared Capital portfolio company Lightstorm has secured Rs 700 crore in funding from NIIF Infrastructure Finance Limited (NIIF IFL). The company aims to use the funds to expand its network footprint, enhance operational capabilities, and drive innovations to meet the needs of large enterprises, significantly strengthening its connectivity business in India.

It also marks a significant milestone in Lightstorm’s India growth journey, reflecting the growing trust in I Squared Capital and Lightstorm's mission to deliver world-class connectivity infrastructure. 

“The funding will play a pivotal role in accelerating the company's efforts to empower enterprises with cutting-edge network infrastructure, enabling them to fast-track their digital transformation initiatives,” the company stated in a press release. 

“We are thrilled to secure this funding from NIIF IFL, which validates our growth roadmap and reinforces the confidence that leading financial institutions have in Lightstorm's vision,” said Amajit Gupta, Group CEO and MD of Lightstorm. 

“This partnership will fuel our growth plans, allowing us to tap into expansion and new opportunities and unlock our business potential. As AI and data centre growth reshape India’s digital ecosystem, this funding will enable us to build the robust connectivity backbone required to support this transformation,” he added.

Lightstorm provides digital network infrastructure solutions across Asia-Pacific, catering to Hyperscalers, cloud-native companies, and large enterprises. The company started its operations in India in 2020 and has already built a 30,000+ km fibre network with a capacity of around 700 Tbps, serving over 100 customers.