M&A
Quantela acquires US-based street light control products firm CIMCON
US and Hyderabad-based IoT-based "smart cities" products firm Quantela has acquired CIMCON Lighting, Inc., a Burlington, MA (USA)-based player in smart lighting and smart city technologies. The acquisition will provide Quantela with access to the "streetlight pole" infrastructure to deploy innovative technologies and enable communities to reduce streetlight energy consumption and maintenance costs. CIMCON, headquartered in Burlington, Massachusetts was founded in 2012 by Anil Agrawal. The company has over 200+ customers in 30 countries with 1.2 million streetlight controls deployed. Founded in 2015, Quantela is an "Outcomes-as-a-Service" (OaaS) company that specializes in urban infrastructure digitization. The company currently has over 100+ deployments across the globe. The company's current Silicon Valley -based US headquarters will be transferred to Burlington.
From the Venture Intelligence PE-VC Deal Database: In Dec-18, Quantela had raised a USD 10 million investment by Digital Alpha Advisors.
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