This is IFC’s first investment in Infratech in the Asia-Pacific region. Image: Linkedin
iBUS Network and Infrastructure, a digital infrastructure solutions provider, announced today that it has secured an investment of Rs 280 crore ($34 million) from the International Finance Corporation (IFC), a member of the World Bank Group, for a minority stake in the company.
This investment will bolster iBUS’s plans for both domestic and international growth, enhancing its ability to deliver solutions for in-building connectivity, outdoor small cells (a radio access point), managed Wi-Fi services, and intelligent Internet of Things (IoT), the company said.
Subash Vasudevan, chief business officer, iBUS Network, said, “IFC’s investment aligns with our vision to transform the digital infrastructure landscape. With their unparalleled expertise and global reach, IFC will play a pivotal role in helping us scale our operations, enter new markets, and deliver world-class digital solutions.”
This is IFC’s first investment in Infratech in the Asia-Pacific region and aligns with the organisation’s broader strategic focus on improving access to high-quality digital connectivity and supporting India’s digital transformation.
“Boosting reliable digital connectivity is critical to bridging the digital divide. IFC’s investment in iBUS Network reflects our strong commitment to supporting India’s vision of a digitally inclusive economy,” said Wendy Werner, IFC India country head.
“Through this partnership, we aim to strengthen last-mile connectivity and elevate the quality of digital infrastructure for both individuals and businesses in the country. By scaling innovative technologies and boosting market competitiveness, we will create new growth opportunities for businesses and job creation in the telecom sector.”
Under the partnership, iBUS Network will also leverage IFC’s gender advisory to increase the representation of women across all organisational tiers.
This investment follows a series of major developments for iBUS, including the recent $200 million funding from the National Investment and Infrastructure Fund (NIIF) and plans for three significant acquisitions this year.
Vinod Giri, managing partner, Master Fund at NIIF, said, “At NIIF, we are committed to backing companies like iBUS that are reshaping India’s digital landscape and driving sustainable growth. We look forward to partnering with IFC to further accelerate iBUS’s mission to digitise India with innovative solutions like in-building connectivity and managed Wi-Fi services.”
iBUS Network & Infrastructure is a provider of neutral cellular and Wi-Fi connectivity in large commercial real estate such as IT parks, airports, hospitals, government institutions, hotels, malls, and educational campuses. iBUS has a presence in over 1,500 sites covering close to 1 billion square feet of tenanted area across more than 40 cities in India.
First Published: Sep 17 2024 | 2:19 PM IST
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