Hyderabad-based OaaS firm, headquartered in the Silicon Valley, Quantela has announced that it has raised $40 million from digital infra focused fund Digital Alpha.
Sridhar Gadhi, Founder and Executive Chairman, Quantela Inc., said, “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, 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.”
Rick Shrotri, Managing Partner at Digital Alpha, added, “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.”
The company informed in a statement, “Quantela recoups the original investment based on actual outcomes of cost savings from deployment of technologies such as smart lighting or smart waste management, as well as incremental revenues earned from user charges such as parking, advertising revenue, traffic violation tickets, or anonymised aggregated data monetisation. This integrated approach focuses on tangible outcomes and long-term commitment to achieve customers’ true objectives.”
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