Esconet Technologies is an Indian enterprise IT company that has spent two decades climbing the value chain - from reselling computer components to designing and manufacturing its own servers under the HexaData® brand, and now to operating a sovereign cloud and a specialised cybersecurity practice. Founded in 2012 by second-generation entrepreneurs who had earlier run a distribution business, the company listed on the NSE SME platform in early 2024 and has since used acquisitions and elite partnerships to stitch together a full-stack offering for government and enterprise clients. The recurring pattern is a deliberate move from low-margin resale toward owning the intellectual property, the manufacturing, and the recurring service relationship - a shift that explains the HexaData factory, the ZeaCloud platform, and the Fluidech acquisition in equal measure. # Business segments Three engines at different stages - a manufacturing-and-integration core that builds the hardware, a cloud subsidiary chasing recurring revenue, and a newly acquired cybersecurity arm that opens the door to critical national infrastructure - each layered on top of the one before. ## 1. HexaData infrastructure and system integration: the hardware engine that makes and stitches everything together **Esconet designs and assembles its own branded servers, storage and supercomputers in-house, then integrates them with third-party gear to deliver complete data centres - the manufacturing is the moat, the integration is the distribution.** - **Own factory, own brand** - the company operates a manufacturing facility for HexaData servers and has commissioned a micro data centre inside it as a test bed, transforming what was once a pure resale business into an OEM aligned with the government’s Make in India programme. - **Built for AI and heavy compute** - the portfolio spans GPU-based servers for artificial intelligence, high-performance workstations certified for design tools like AutoCAD and Maya, and supercomputers that combine NVIDIA GPUs with AMD and Intel CPUs, preloaded with machine-learning frameworks such as PyTorch. - **Storage that scales to petabytes** - the company has installed roughly 28 petabytes of storage systems, using a mix of flash and spinning disks with auto-tiering, and offers software-defined storage that runs on commodity hardware to eliminate lock-in. - **Networking as the connective tissue** - it has delivered over 60,000 Ethernet ports across data centres and campuses, building networks from 10G to 400G with software-defined overlays and embedded firewalls and intrusion prevention. ## 2. ZeaCloud: the recurring-revenue bet on sovereign cloud **A wholly owned subsidiary building an indigenous cloud platform for government and digital-native customers, where the company earns annual recurring fees rather than one-off hardware sales.** - **A home-grown alternative to hyperscalers** - Esconet is developing its own cloud software stack for ZeaCloud, moving away from third-party platforms to reduce input costs and offer customisation that global public clouds cannot provide. - **Sovereign cloud as the differentiator** - the company is targeting empanelment with MeitY, the government’s technology ministry, to host public-sector data on what it calls a sovereign cloud platform aligned with the Make in India vision. - **Capacity quadrupled in a year** - during FY25, ZeaCloud’s infrastructure was expanded fourfold through a ₹5 Crores investment, upgrading the backbone network to a 400 gigs backbone network to support hybrid-cloud deployments. - **A different sales motion** - the cloud business runs on an OPEX and annual-recurring-revenue model, which management notes requires a distinct approach from traditional infrastructure sales, where deal sizes are larger but one-off. ## 3. Fluidech: the cybersecurity key to critical infrastructure **A 70%-owned subsidiary that holds a rare government accreditation to audit and protect the country’s most sensitive computer systems - a credential no other Indian consulting firm has.** - **The only one with this licence** - Fluidech is India’s first and only accredited consulting organisation to the National Critical Infrastructure Information Protection Centre, a unit of NTRO/NDRO monitored directly by the National Security Advisor, giving it an early-mover advantage in a complex and audited approval process. - **Serving the sectors that cannot fail** - through that accreditation, Fluidech works with large healthcare, oil and gas, power, financial institutions and banks on protecting their critical information infrastructure. - **Compliance as a recurring revenue stream** - the company offers ready-made service packages for SEBI-regulated entities to meet the securities regulator’s cybersecurity framework, a mandate management expects to be enforced soon. - **Bought, not built from scratch** - Esconet acquired its 70% stake through a mix of cash, a share swap, and fresh equity subscription, gaining a business that had already been operating for over ten years. # Group structure and partners **A listed parent with three subsidiaries - a cloud platform, a cybersecurity firm, and a Singapore trading entity - stitched together by elite partnerships that give it privileged access to scarce technology.** - The listed parent, Esconet Technologies, is headquartered in Delhi’s Okhla industrial area and trades on the NSE SME Emerge platform. - ZeaCloud Services is the wholly owned cloud subsidiary, incorporated in 2022, and as of early 2026 the company is in preliminary talks with an outside investor who may take a minority stake. - Esconet Singapore Pte. Ltd. is a wholly owned subsidiary set up in FY25 to bill overseas clients directly and route materials to foreign entities without attracting Indian customs duties. - The NVIDIA Elite Partner status sits at the top of a partner stack that also includes Scality of France, for whose platform Esconet is getting its Hexadata servers certified and will launch a backup appliance, and Cato Networks of Israel, whose SASE platform underpins the managed networking service.