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Quantela, a Smart City Automation and AI Leader, Announces a $10m Equity Investment From Digital Alpha to Scale its Global Business

Press Trust of India  |  BANGALORE 

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will also fund innovative revenue-sharing financing for key public sector customers around the world

Silicon Valley headquartered Quantela is using the $10m investment by for market expansion and to enable a deeper presence in strategic locations across the and views Quantela as an important complement to its smart cities strategy.

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Quantela has achieved 100% annual growth on revenues year-over-year and is keen on deepening its presence in target markets. Quantela's flagship platform 'Atlantis' is an (AI) platform that helps its customers make smarter utilization decisions. Atlantis uses advances in data aggregation, operational intelligence, deep learning and to enable urban service providers, cities and communities and other organizations to efficiently handle large volumes of from IoT, open data sources and operational to make better-informed decisions.

On the investment, Sridhar Gadhi, and Founder of Quantela Inc., said: "Smart cities and communities are a reality that all of us are experiencing and data sits at the heart of this. Over the years, we worked with various and community projects. This gave us the market intelligence needed to tune our products to the needs of cities and communities.

This investment and strategic partnership are helping us to accelerate our product development to meet the demands of both developed and developing economies. By offering outcome-based services, we will accelerate the realization of benefits to the society by deploying

We are excited for the next phase of growth into the US and markets. We firmly believe that with mutual synergies with Digital Alpha, we can disrupt the way are designed and deployed in cities and communities."

Founded in 2014, has successfully delivered and deployed the Atlantis platform to dozens of cities and communities including some 40 sites across the US, Europe, and with key contracts in place around the world, Quantela have rapidly become a in the smart cities and communities segment worldwide.

On the investment, Digital Alpha Managing Partner, Rick Shrotri, said: "Our investment into Quantela marks the continuation of an exciting journey for us to focus on breakthrough platforms for smart cities and IoT. Quantela has distinguished itself with clear market-leading capabilities when it comes to the automation needed to enable smart cities, driven in part by its powerful platform. Moreover, through our discussions with city leaders such as the of Las Vegas, the of the Erie Innovation District, and leading partners like and L&T, we've seen convincing evidence of successful deployments and technical capabilities, We are pleased to provide additional capital to help Quantela scale its global footprint and to also enable new, equity-driven, revenue-sharing models that can help cities deploy more rapidly.

Digital Alpha enjoys a strategic relationship with Cisco and as a part of its charter has had a focus on IoT and smart cities. One of the segments Digital Alpha and Cisco are looking to pursue is in large-scale data center solutions, aimed at building in-country, sovereign cloud environments. With our investment into Quantela, we can shape new product lines that are pre-packaged with Cisco's data center offering, which can then be offered to cities with innovative financing options that are otherwise not available in the market. We are pleased to partner with an already-successful company that has tremendous potential to scale and define the market for decades to come."

As part of its expansion, Quantela will also be setting up centers of excellence in the US, and These centers will foster research and development of local solutions fitting the requirements of smart cities and communities.

On the investment, Amr Salem, Head of Global Public Sector, Cisco, said: "Cisco is recognized as a of smart cities for our ability to bring together technology, innovation, strategic thought leadership, and a powerful ecosystem of partners. Quantela will package their solutions with Cisco's and the Cisco Kinetic for Cities platform into a unique, single service offering. Digital Alpha's investment will undoubtedly open new avenues for Cisco and Quantela to scale our joint proposition to cities and communities."

About Digital Alpha

Digital Alpha is an investment firm focused on digital infrastructure and services required by the digital economy, with a strategic collaboration agreement with Cisco Systems, Inc. As part of this agreement, Digital Alpha has preferred access to of commercial opportunities requiring equity financing. Digital Alpha believes that it is the first fund focused on making private equity investments in the significant growth opportunities required to underpin the Digital Economy, including smart cities, next generation networks, and and

About Quantela, Inc.

Quantela is a in providing the digital platform 'Atlantis' for automating and optimizing operations. Headquartered in the USA, with a presence in Europe and Asia, Quantela is addressing the global smart cities and communities market.

In 2018, Quantela rolled out 'Smart-City-in-a-box', which includes the Atlantis platform plus a set of as part of Cisco's Data Center and Hybrid Cloud offerings. Quantela intends to provide the combined package as a managed offering to cities and communities.

Source: Quantela Inc.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 08 2018. 18:15 IST