The new data center in Airoli, Navi Mumbai, is expected to cater to hyperscalers, commerce, content and fintech companies. 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. Related content opinion McDonald's serves up a master class in how not to explain a system outage When McDonald's in March suffered a global outage preventing it from accepting payments, it issued a lengthy statement about the incident that was vague, misleading and yet still allowed many of the technical details to be figured out. By Evan Schuman Apr 01, 2024 7 mins Mobile Payment Data Center Industry opinion Failed unsubscribes could be a clue your data's out of control One of the oldest and most frustrating rules about email spam is that the unsubscribe link never works — all it does is confirm your email address is active. But what if the unsubscribe failure is caused by something far more problematic? By Evan Schuman Jan 15, 2024 3 mins Technology Industry Data Privacy Legal news Microsoft’s data centers are going nuclear A job posting suggests that Microsoft is planning to explore the use of small nuclear reactors for its major data centers. By Jon Gold Sep 25, 2023 3 mins Green IT Data Center news analysis The EU Data Act is a lot bigger than iCloud The EU is taking a stand against vendor lock-in for data services, including IoT, connected device, and cloud services. By Jonny Evans Jun 29, 2023 5 mins Small and Medium Business Apple Cloud Computing Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe