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Cisco launches $1-bn funding plan to transform smart cities

Cisco will bring the capital and expertise it takes to make smart city projects a reality

IANS  |  New Delhi 

Cisco
Cisco will help cities assemble suite of finance instruments to fund and deploy innovative technology with minimal initial investment

To help city planners adopt technologies that will transform their communities globally, has announced a $1 billion programme.

Under the "City Infrastructure Financing Acceleration Programme", the funding will be provided through Capital, Systems' investment arm, in partnership with private equity firm Digital Alpha Advisors and pension fund investors APG Asset Management (APG) and Whitehelm Capital.

"Funding is a major stumbling block for municipalities beginning their smart city transformation," said Anil Menon, Global President of Cisco's Smart+Connected Communities.

"With our partners, will bring the capital and expertise it takes to make smart city projects a reality," Menon said in a statement on Friday.

The programme will help cities assemble suite of finance instruments to fund and deploy innovative technology with minimal initial investment.

"Whether a city is looking to reduce energy usage, ease traffic and parking, or boost public transportation ridership and revenues, the programme will help cities with solutions," said.

At the Smart City Expo World Congress in Barcelona, Spain, also announced added functionality to its newly renamed connected digital platform, "Kinetic for Cities", which is integrated with the "Kinetic IoT" data platform.

The new features provide enhanced support for public safety.

"Real-time notification of emergency information now draws on additional IoT data sources and "Spark Collaboration", enabling faster emergency response," the company said.

First Published: Fri, November 17 2017. 17:05 IST
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