Data center automation company Idea Device has raised a round of Series A funding from Sequoia Capital. The company provides automation solutions to help enterprises reduce operational errors and manual processes in their data centers.
Idea Device currently works companies in the IT and BFSI sector.
Saju Pillai, Co-Founder and CEO, Idea Device said that the company is looking at global expansion starting with Singapore and US. Idea Device was initially incubated at NSRCEL, IIM-Bangalore and now has offices in Mumbai & Singapore with a development center in Bangalore.
Sequoia Capital in India, which currently manages funds capitalized at close to $1.4 billion has invested in nearly 50 companies in India including Capillary Technologies, Druva Software, Just Dial, Micromax and Mu Sigma.
In August, Bangalore Based Data center solution provider NxtGen Raises $8.8 Mn from Intel Capital.
In June 2013, CloudByte, a storage solution provider, raised $4 million in a new round of funding from Fidelity Growth Partners India and existing investors.
A recent study ranked India as the second most riskiest country to set up data center. However, according to another study by Springboard Research, third party data center market in India will reach $1.1 billion by 2015, with a CAGR growth of 29% for the period 2010-2015.
Companies such as Sify Technologies Limited, Reliance Communications, TCS & Netmagic are third party data center providers in India. NTT Communications’ subsidiary Netmagic has plans to setup a 1, 00,000 sq.ft data center in Bangalore.