Digiboxx, indigenous file storage and sharing platform revealed its $15 million valuation, as well as the successful conclusion of a pre-Series A investment round led by CapGro Private Limited to support the company’s next stage of growth.
Digiboxx, which launched in December 2020, intends to become India’s favourite public cloud storage platform, with more than 1.0 million customers, according to a press release.
The funds will be used to fund the company’s next phase of expansion, which will involve product development, expanding into new markets, scaling operations, growing its staff, and enhancing its technological platform. It will also utilise the funds to expand its core engineering operations in order to meet increased client demand.
The cloud storage, which was announced by NITI Aayog CEO Amitabh Kant in December of last year, is digital file storage, sharing, and data management system that allows people and small businesses to store personal and business data.
The platform is optimised for all internet-connected devices and bandwidths across the country.
Digiboxx also supports eight regional languages, with hopes to expand to more regional languages in the near future.
Expressing his optimism on the fresh funding support, Mr Arnab Mitra, CEO, Digiboxx, said, “We are thrilled to receive the additional investment support from CapGro. Given the current circumstances, this is indeed a good boost for the entire team. We at Digiboxx have the vision to positively influence people to support homegrown brands”.
The Digiboxx CEO said “We are working with multiple Indian Data Centres to assure that data is being sorted within the country’s borders. With this fund infusion, we are looking to further expand the company’s Research and Development (R&D) capabilities and hire the right talent. There is always a demand for the right talent and large established companies get the best talent easily. And as a new company, we have to develop an understanding in them that we are making an impact”.
Mr Nitin Narang, Director, CapGro Private Limited, said “We are delighted to have invested in Digiboxx. The Company has demonstrated tremendous growth since its inception and has developed a committed and loyal following.
We are keen to provide the resources and support to help the company further build and refine its unique product strategy and market position,” he added.
