A year after initiating operations to create a data center in India’s economic city, Mumbai, Princeton Digital Group on Wednesday declared that its $300 million flagship cloud infrastructure in India was officially live.
The new data center, which has been dubbed MU1 and is housed in an IT complex at Airoli in Navi Mumbai, is planned to serve hyperscalers such as Microsoft, AWS, and Google with commerce, media, and finance enterprises, Princeton Digital the company said in a statement.
As stated in a survey by Allied Market Research, the worldwide data center market would grow from its projected 2020 value of $187.35 billion to $517.17 billion by 2030.
The report links the growth of data centers to rising difficulties in computation due to the proliferation of high-end computing needs across numerous industrial verticals.
Princeton Digital Group, a data center developer and infrastructure supplier, runs 20 data centers in 14 cities across India, Japan, China, Indonesia & Singapore.
The company, which was founded via the alliance of co-founders Rangu Salgame, Varoon Raghavan and Warburg Pincus in 2017, opened its headquarters in Singapore in 2018.
In 2020, the firm raised $360 million in a round headed by Ontario Teachers’ Pension Plan Board, followed by another $230 million in debt refinancing from China Merchants Bank in 2021.
In the same year, the company announced intentions to develop data centers in China and Indonesia for $1 billion & $150 million respectively.
Further, the company announced that it has finished establishing a data center in Nanjing, China.