E2E Networks is the talk of the town as AI frenzy takes hold
E2E Networks, an artificial intelligence cloud service provider, is getting a lot of attention that the National Stock Exchange-listed company has probably not seen in the 15 years since its inception.
The company started offering graphics processing units (GPUs) for cloud computing in 2018, when nobody else was in the market in India. The bet is now paying off, with a customer list of 2,500-3,000 companies, mostly startups and small and medium enterprises (SMEs) and also some big companies. Its stock has yielded almost 280% year-to-date, which according to Bloomberg data makes it one of the top-performing IT stocks of 2024.
Delhi-based E2E is well-positioned to participate in the India AI Mission’s tender to procure 10,000 GPUs as part of a consortium.
The company’s clients include CarDekho, 1mg, Zomato, Junglee Games and purplle.com, cofounder and chief executive Tarun Dua told ET.
Around 70% of its revenue comes from Indian customers. It employs about 150 people and has its largest data centre (with a capacity of 3.2 megawatt) in Greater Noida with two smaller facilities in Mumbai and Noida. It raised around Rs 420 crore in its latest funding round that closed in August, he said.
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