Urban infra digitisation co Quantela raises $40-M from Digital Alpha

Milpitas, CA (USA)- and Hyderabad-based Quantela Inc, an outcomes-as-a-service (OaaS) company working in the space of urban infrastructure digitisation, smart cities and IoT, has raised about USD 40 million in growth capital from Digital Alpha, a digital infrastructure investment firm. The funds will be used by Quantela to grow through acquisitions, as well as help city governments finance 'outcomes-driven' infrastructure digitisation projects globally. This follows a Series A round of funding of USD 10 million in November 2018. Quantela's latest OaaS deployment is in a USD 20 million project in Kerala, which seeks to reduce road fatalities by improving traffic rules enforcement.