Smart city player Quantela raises $40 mn growth capital from Digital Alpha

Bags the first outcome based project from Kerala government in India

Quantela Inc, provider of IoT-enabled Smart Cities and urban infrastructure digitisation, has closed approximately $40 million in growth capital for new Outcomes-as-a-Service (OasS) projects and acquisitions from Digital Alpha, a leading digital infrastructure investment firm.

The funding is aimed at helping Quantela grow inorganically through acquisitions, as well as help city governments finance ‘Outcomes-driven’ infrastructure digitization projects globally.

"The growth capital from Digital Alpha is a validation of the market opportunities that exist for us”, said Sridhar Gadhi, Founder and Executive Chairman, Quantela Inc. “While Quantela has been growing exponentially since inception, the funding will enable us to expand our global presence