CapitaLand India Trust Management Pte Ltd, the trustee-manager of CapitaLand India Trust (CLINT), is acquiring a 4.01-acre freehold site in Ambattur, Chennai for Rs 83.28 crore to develop its third data centre in India. CLINT will invest an estimated total amount of Rs 19.4 billion (about Singapore dollar 328.8 million) to acquire the site and develop a state-of-the-art data centre in phases over the next four to five years.

After several years of aggressive investment in the Australian tech market, top US venture capital firms have significantly scaled back investment which had surged during the pandemic. Cut Through Venture reports indicate that $638 million was raised by local startups this November in 44 deals, but found that number down from $1.3 billion the previous year.