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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. Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Artificial Intelligence(AI) Basics of Generative AI : Unveiling Tomorrow's Innovations By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Web Development A Comprehensive ASP.
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P. Gupta, Professor: Department of Finance and Business Economics, University of Delhi View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program It works with startups in India, the Middle East, Asia Pacific, and the US. “We plan to work with global capability centres, enterprises, the government, higher education and research.
We are firing on all cylinders today,” Dua said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Recently, the Ministry of Electronics and Information Technology empanelled the company, indicating the suitability of its cloud platform for use by the government for its compute workloads as well. After its initial public offering in 2018, E2E pivoted to self-service platforms and SMEs became its mainstay, and it did not want to do private cloud and managed services, Dua said.
But that has changed now. “Today, we are much more open, we are happy to do hybrid cloud , private cloud, and public cloud. We continue to work with thousands of SMEs,” the CEO said.
“As of today, we already have more than 1,000 GPUs. With the GPUs we would acquire in the next six months, we pre-qualify all the other criteria,” he said. But since E2E’s revenue has not been more than Rs 100 crore in the last three financial years, it cannot bid alone or become a primary partner in a consortium.
“In June, we had about Rs 14.5 crore of monthly recurring revenue. It implies nearly Rs 175 crore of annual recurring revenue if you were to project that for 12 months forward,” he said.
“We’re short of one quarter of published results. In the last financial year, we had about Rs 94 crore annual revenue,” he said. “Even if you were to wait for just six months, we would meet that limit (on revenue for the GPU contract).
It is just at a point of time today that we don’t meet that criterion (revenue). The empanelment says it is open every quarter, but it is not completely fair to us,” Dua said. E2E Networks got H100 GPUs from Nvidia in November.
As per E2E’s website, the hourly billing of one H100 GPU is Rs 450..
