Nava Seeks Major Capital Injection for AI Infrastructure
Nava, an AI data centre startup formerly known as Kluisz, is in advanced talks to raise approximately $200 million (Rs 1,900 crore) in a fresh funding round. According to three people familiar with the matter, the round is being led by existing investor Greenoaks, with participation from other investors expected. If finalized, this would mark one of the largest fundraises for an Indian startup in recent months.
The company, which builds private cloud infrastructure for enterprises, is reportedly being valued at around $750 million (Rs 7,125 crore) in the ongoing negotiations. This represents a significant jump from its previous valuation of over $40 million (Rs 380 crore) recorded around April 2026, according to private markets data platform Tracxn. Nava has not previously disclosed its valuation, and Greenoaks and Nava did not respond to queries regarding the specific terms, noting that discussions are still underway.
Second Raise in Six Months
This proposed $200 million round would be Nava’s second fundraise in less than six months. In March, Moneycontrol first reported that the company was raising around $22 million from Greenoaks, a round that was formally announced in the subsequent weeks. To date, Nava has raised more than $30 million (Rs 285 crore) from investors including RTP Global and Unicorn India Ventures, as per Tracxn data.
The startup was co-founded by Abhinav Sinha, former global COO of OYO; Vamshidhar Reddy, a former partner at McKinsey and executive at AMD; and Abhijeet Singh, former VP of Cloud at Jio. Their platform offers a secure and scalable infrastructure stack designed specifically for the AI era.
Greenoaks’ Deepening Bet on India Deeptech
For Greenoaks, a US-based investor, this potential investment fits a broader pattern of increasing exposure to Indian deeptech companies after initial investments. The firm has historically moved from early-stage participation to larger positions as its conviction grows, similar to its investments in Zetwerk, OYO, and CRED. In Zetwerk’s case, Greenoaks participated in a $32 million round in 2019 before investing $120 million in 2021.
In India, Nava would be Greenoaks’ latest deeptech bet this year, following its $37 million investment in drone startup Airbound. The move aligns with rising investor appetite for AI infrastructure in India, where a majority of $100 million-plus rounds this year have been concentrated in this sector.
Market Context and Competitive Landscape
If the $200 million round materialises, it would rank among the largest funding rounds in India’s AI and data centre ecosystem. It would trail Sarvam AI’s $300 million fundraise but exceed recent rounds by Emergent ($130 million), Brahma AI ($150 million), and Pixxel ($100 million). The trend reflects a maturing sector where investors are becoming more comfortable writing larger cheques for infrastructure plays, with notable exceptions in fintech (Navi) and EVs (River).