Morgan Stanley-Backed iBus Raises INR 1.25 Billion
The fund raised will be used for the company's consolidation and transformation of digital infrastructure in Wi-Fi managed services and other value-added services
The iBus Group, a telecom infrastructure and technology company that provides digital platforms, has raised INR 1.25 billion from Nomura, a global financial services group. The fund raised will be used for the company's consolidation and transformation of digital infrastructure in Wi-Fi managed services and other value-added services. I will also enable to expand the platform's presence globally through its subsidiaries in Singapore, Dubai and US.
"Our consolidated strengths will enable us to scale our end-to-end intelligent and convergent connectivity ecosystem. 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 or 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," said Subash Vasudevan, director and CBO, iBus Group.
Founded in 2010, iBus Networks is an in-building connectivity solutions company with vision to build and blitz scale a financially strong digital infrastructure company for the future connected economy. The company offers a solution to enhance the mobile signal network to provide seamless indoor high-speed connectivity and bridging the digital gap with making broadband facilities available in underserved locations."We are delighted to participate in the growth journey of iBus. Our investment ill allow the company to drive consolidation and scale its digital footprint," said Ambrish Singh, managing director and Nomura's head of loans and Principal Investments in India