India: Smart city solutions provider Quantela raises $40m from Digital Alpha

Sridhar Gadhi, Founder and Executive Chairman, Quantela Inc.

California- and Hyderabad-based Quantela Inc., an IoT-enabled solutions provider for smart cities, has raised about $40 million in growth capital from digital infrastructure investment firm Digital Alpha for new outcomes-as-a-service (OaaS) projects and acquisitions, it announced on Tuesday.

The funding is aimed at helping Quantela grow inorganically through acquisitions, as well as help city governments finance ‘outcomes-driven’ infrastructure digitization projects globally, it said in a statement.

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