Yotta Raises $150 million at a $3.8 Billion Valuation
The Hiranandani Group-backed data center firm is scaling its AI cloud to 85,000 Nvidia GPUs by the end of the financial year as it prepares for a proposed $900 million listing.
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Yotta Data Services has raised about $150 million from non-institutional investors at a valuation of nearly $3.8 billion, as the Hiranandani Group-backed data center and AI infrastructure company prepares for a planned public listing.
The funding comes ahead of a proposed $900 million initial public offering in Mumbai.
Bloomberg had reported in May that Yotta was weighing an India IPO and had hired ICICI Securities and SBI Capital Markets as advisers.
The latest capital raise is entirely primary, with no promoter offer-for-sale, the company said.
The money will be used to support expansion across Yotta’s AI, sovereign cloud, cloud and managed services, and data center businesses.
Yotta said its valuation is based on business fundamentals, long-term contracted revenues and execution visibility, rather than only market sentiment, while adding that it continues to evaluate interest from long-term institutional investors as it expands its AI and digital infrastructure business.
The company plans to scale its AI cloud to more than 40,000 Nvidia Blackwell GPUs over the next four months and about 85,000 GPUs by the end of the financial year.
The expansion builds on Yotta’s earlier announcement that it would deploy 20,736 liquid-cooled Nvidia Blackwell Ultra GPUs in India, with the supercluster expected to go live by August.
That deployment was projected to involve investment of more than $2 billion.
Nvidia also planned to establish one of Asia Pacific’s largest DGX Cloud clusters within Yotta’s Blackwell Ultra supercluster under a four-year engagement valued at more than $1 billion, Yotta said in February.
The scale-up places Yotta at the center of India’s push to build domestic AI compute capacity, a market that has drawn rising interest from cloud providers, enterprises, model developers and government-backed digital infrastructure programs.
Yotta has positioned itself as an infrastructure partner for sovereign cloud and AI initiatives in India, while also targeting global AI model builders and inference providers.
The company offers hyperscale data center, cloud, managed services, cybersecurity and connectivity services.
The fundraise gives Yotta additional balance-sheet strength before its expected IPO, but it also raises the execution bar.
