Quantela Inc, a Silicon Valley-headquartered and Hyderabad-based outcomes-as-a-service (OaaS) company working in the space of urban infrastructure digitization, smart cities, and IoT, has closed approximately $40 million in growth capital from Digital Alpha, a digital infrastructure investment firm. This follows a Series A round of funding of $10 million in November 2018.
The funding is aimed at helping Quantela grow inorganically through acquisitions, as well as help city governments finance ‘outcomes-driven infrastructure digitization projects globally.
Quantela enables city administrators to deploy citizen-centric technology products that deliver quantifiable outcomes. These include public safety, congestion-free traffic, cleaner environment, improving access to enhanced and inclusive public services as well as helping cities become operationally efficient through cost savings and increased revenue generation. The company has more than 100 smart city deployments around the globe.
“The growth capital from Digital Alpha is a validation of the market opportunities that exist for us. While Quantela has been growing exponentially since inception (in 2010), the funding will enable us to expand our global presence faster through a combination of acquisitions and new OaaS projects, creating greater impact for societies,” Quantela founder Sridhar Gadhi said.
“Quantela has clear, market-leading capabilities in smart cities, which have delivered tangible outcomes for its customers globally, addressing critical societal issues such as the digital divide, safety, security, and environmental sustainability,” added Rick Shrotri, Managing Partner at Digital Alpha.
Quantela is working also with civic bodies in India in cities like Mumbai and Bengaluru to manage their Covid response centers. The company said it had signed a $20 million project for traffic management in Kerala to enable the state to reduce road fatalities by improving traffic rule enforcement.