Digital infrastructure solutions provider iBUS Network and Infrastructure Pvt Ltd. has secured an investment of about $34 million (Rs 280 crore) from the International Finance Corporation (IFC), a member of the World Bank Group, the company said in a statement.
The 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 in a statement.
“This partnership marks a significant milestone for iBUS, as we aim to accelerate our growth, improve our technological capabilities, and continue to strengthen our position as a leader in the industry,” said Subash Vasudevan, Chief Business Officer, iBUS Network.
This is IFC’s first infratech investment in the Asia-Pacific region and aligns with the organisation’s broader strategic focus on improving access to 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.”
The investment comes after iBUS received a $200-million funding from the National Investment and Infrastructure Fund (NIIF) in April this year.
iBUS is a player in the 5G convergence landscape, building interoperable infrastructure for digital connectivity. It claims to have a presence in 1,500+ sites covering 1 billion square feet of tenanted area across 40+ cities in India. The company is integrating its existing solutions of in-building and wi-fi services with intelligent IoT and data.
