Exclusive: IaaS startup Cloudrino in talks with RAIN, angel investors for seed round
Cloud technology startup Cloudrino, run by Koonk Technologies Pvt. Ltd, is in an advanced stage of talks with investors for a seed investment round led by angel investor Ajay Data and Rajasthan Angel Investment Network (RAIN).
The new capital will be utilised for technology and talent acquisition, Tarusha Mittal, founder, Cloudrino, told Techcircle.in.
The deal is likely to be finalised by next month. Mittal, however, declined to disclose the amount of funds to be raised.
Cloudrino is a cloud IaaS (infrastructure as a service) platform which allows users to set up and manage servers. These cloud servers can be used for web/app hosting, storage and backup, or to manage third party servers,as well.
The startup has data centres in New Delhi, Pune, Melbourne (Australia) and North Carolina (United States).
"Our differentiator is that we even allow third-party servers on our platform. Moreover, the multiple-node technology we have built is such that the services do not halt even if the entire data center does, something which is not in the market," said Mittal.
Cloudrino claims that the conversion rate from the free to the paid model is 8-10%, and it provides 100% uptime guarantee.
The startup was founded in 2011 by Tarusha Mittal and Mohit Madan. Mittal is a company secretary while Tandon is an ethical hacker. The company is mentored by angel investor Ajeet Khurana.
One of the biggest players in the web-hosting segment is US-based GoDaddy, which went for an IPO last year. Another player would be Amazon Web Services.
Ajay Data, of Data Infosys Ltd, had recently invested in hyperlocal fashion commerce portal Yufta, run by RKT Lifestyle Pvt Ltd.
RAIN had recently invested Rs 3 crore (around $450,000) in children's entertainment portal Imaginry, run by Bangalore-based Toko Innovations Studios Pvt. Ltd.
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