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Subash Vasudevan, CBO and Co-founder, iBUS Network
iBUS Network and Infrastructure, a digital infrastructure solutions provider, has raised Rs 280 crore (or about $34 million) in funding from the International Finance Corporation (IFC), a member of the World Bank Group.
With this, IFC has acquired a minority stake in the Bengaluru-based company.
Notably, this is IFC’s first investment in Infratech in the Asia-Pacific region and aligns with the organization's broader strategic focus on improving access to high-quality digital connectivity and supporting India’s digital transformation.
What does iBUS Network do?
iBUS Network & Infrastructure is an Indian digital infrastructure solutions provider and a specialist in deploying and operating seamless neutral cellular and Wi-Fi connectivity in large commercial real estate such as IT parks, airports, hospitals, Government Institutions, hotels, malls and education campuses.
The company claims to have a presence in 1500+ sites covering close to 1 billion sq. feet of tenanted area across 40+ cities in India.
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Strengthening plans for further growth
According to the company's statement, the strategic partnership is set to further bolster iBUS's plans for domestic and international growth, enhancing its ability to deliver cutting-edge solutions for in-building connectivity, outdoor small cells (a radio access point), managed Wi-Fi services, and intelligent Internet of Things (IoT).
"We are excited to welcome IFC as a key partner in our journey toward global expansion and innovation," said Subash Vasudevan, Chief Business Officer, iBUS Network.
"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," Vasudevan said.
He further said the partnership marks a significant milestone for the company, as it aims to accelerate growth, improve technological capabilities and strengthen its position in the industry.
Leveraging IFC's gender advisory
Under the partnership, iBUS Network will also use IFC's gender advisory to increase women's representation across all organizational tiers.
iBUS said it aims to continue scaling operations and extending its market presence beyond India and across emerging sectors, including IoT and other advanced digital infrastructure solutions.
“We are delighted to welcome IFC as a partner alongside National Investment and Infrastructure Fund (NIIF) in iBUS Network,” said Vinod Giri, Managing Partner – Master Fund at NIIF.
“IFC’s investment is not only a testament to iBUS’s robust growth trajectory and strong fundamentals, but also underscores the critical role that digital infrastructure will play in India’s growth story. At NIIF, we are committed to backing companies like iBUS that are reshaping India’s digital landscape and driving sustainable growth."