AI data centre startup Nava, founded by ex

MC EXCLUSIVE AI data centre startup Nava, founded by ex-OYO executive, in talks to raise $200 million from Greenoaks

Nava (formerly Kluisz), an AI data centre startup founded by Abhinav Sinha, former global COO of OYO, is in talks to raise around $200 million (Rs 1,900 crore) in a fresh round from existing investor Greenoaks, at least three people aware of the developments told Moneycontrol.

Other investors are also likely to participate in the round, which could emerge as one of the largest fundraises for an Indian startup in recent months, the people cited above said.

Nava builds private cloud infrastructure for enterprises, offering a secure and scalable infrastructure stack designed for the AI era. The company was founded by Sinha, former chief operating officer at OYO; Vamshidhar Reddy, a former partner at McKinsey and executive at AMD; and Abhijeet Singh, former VP of Cloud at Jio.

This will be Nava’s second fundraise in less than six months. Moneycontrol was the first to report in March that the company was raising around $22 million from Greenoaks. The round was formally announced in the weeks that followed.

“Nava is likely being valued at around $750 million (Rs 7,125 crore) in the ongoing negotiations with Greenoaks,” one of the people cited above said.

The company had not previously disclosed its valuation. Private markets data platform Tracxn, however, shows that Nava was valued at more than $40 million (Rs 380 crore) around April 2026.

Greenoaks and Nava did not respond to Moneycontrol’s queries. To be sure, discussions are still underway and the deal contours may change slightly as talks progress.

The fresh capital comes at a time when investor appetite for deeptech and AI infrastructure startups in India is rising, with a growing number of companies attracting larger rounds.

Nava has so far raised more than $30 million (Rs 285 crore) from investors including RTP Global and Unicorn India Ventures, according to Tracxn.

If the $200 million round materialises, it would rank among the largest funding rounds in India’s AI and data centre ecosystem -- behind Sarvam AI’s $300 million fundraise and ahead of Emergent’s $130 million round, Pixxel's $100 million raise, all first reported by Moneycontrol and Brahma AI’s $150 million fundraise, among a few others others.

A majority of the $100 million-plus rounds in India this year have been concentrated in AI and data centre infrastructure, as the sector matures and investors become more comfortable writing larger cheques.

There have been exceptions, including fintech company Navi and EV maker River, as exclusively reported by Moneycontrol.

Greenoaks’ follow-on playbook

For Greenoaks, a $200 million investment in Nava would also fit a broader pattern in which the US-based investor has increased its exposure to companies after making an initial investment.

Rather than being a one-and-done investor, Greenoaks has, in several Indian startups, participated in early rounds and subsequently increased the size of its bets as its conviction in the companies grew.

B2B manufacturing company Zetwerk is one example. Greenoaks participated in a roughly $32 million round in 2019 before taking a substantially larger position in subsequent rounds, including a $120 million investment in 2021.

The investor has followed a similar pattern with companies such as OYO and CRED, where it participated in multiple funding rounds over time and increased its exposure as the companies raised larger rounds.

In India, Nava would be Greenoaks’ latest deeptech bet this year after the investor backed drone startup Airbound in a $37 million funding round.

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