Princeton Digital Group’s $300 million India data center now online

A year after commencing operations to build a data center in India’s business capital, Mumbai, Princeton Digital Group on Wednesday said that its $300 million flagship data center in India was now online.

The new data center, which has been codenamed MU1 and is based in an IT campus at Airoli in Navi Mumbai, is expected to cater to hyperscalers such as Microsoft, AWS and Google along with commerce, content and fintech companies, Princeton Digital Group said in a statement.

The global data center market, valued at $187.35 billion in 2020, is expected to reach $517.17 billion by 2030, according to a report from Allied Market Research.

The report attributes the growth in data centers to rising complexities in terms of scalability due to proliferation of high-end computing requirements across multiple industry verticals.

Princeton Digital Group, which is a data center developer and infrastructure provider, operates 20 data centers in 14 cities across India, Japan, China, Indonesia and Singapore.

The company, which was started via the partnership of co-founders Rangu Salgame, Varoon Raghavan and Warburg Pincus in 2017, opened its headquarters in Singapore in 2018. 

In 2020, the company raised $360 million in a round led by Ontario Teachers’ Pension Plan Board, followed by another $230 million in debt refinancing from China Merchants Bank in 2021.

During the same year, the company announced plans to build data centers in China and Indonesia worth $1 billion and $150 million respectively.

Further, the company said that it has finished building a data center in Nanjing, China.