WORLDTECHGIVA secures $100M in Multiples-led round as India plans data centre surge
GIVA, a jewellery brand based in Bengaluru, has raised $100 million in a funding round led by Multiples Alternate Asset Management, according to YourStory. In the same report, Crisil Ratings projects that India's data centre capacity will grow five-fold by March 2030.
Funding round and planned use of capital
YourStory reports that GIVA has closed a $100 million round in which Multiples Alternate Asset Management is the lead investor.
According to the company, the new capital will go towards strengthening its leadership team, widening its manufacturing capacity and building a deeper offline retail footprint.
Data centre capacity projected to grow five-fold
Crisil Ratings expects India's data centre industry, the sector that houses the computers behind online services, to expand five-fold. Installed capacity is forecast to reach 7.5 GW by March 2030.
The agency expects more than Rs 3 lakh crore of investment to flow into the sector over the next four financial years. Generative AI, cloud adoption and enterprise digitalisation are cited as the forces behind the build-out.
Conditions for keeping projects on schedule
Crisil Ratings says power connectivity, regulatory clearances and project execution will be decisive in keeping the projects on track.
Open questions
- What valuation or stake terms were attached to GIVA's $100 million round?
- Which specific projects will account for the Rs 3 lakh crore of expected investment?