IoT Startup Quantela Receives $40 million Investment From Digital Alpha

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team
Published on June 24, 2021

Quantela has secured a $40 million USD investment from Digital Alpha to continue development on Outcomes-as-a-Service (OaaS) projects, and also acquisitions from Digital Alpha. The two companies have an ongoing relationship. This is at least the second time that Quantela has received support from Digital Alpha.

The OaaS model is an outcome of a collaboration between Quantela and Digital Alpha. Previously, the OaaS model was applied to a project in Erie, PA.

An investment by Digital Alpha was used to secure a grant that doubled the amount of capital to support the development of a free, public Wi-Fi network that is spread out over eight Federal Opportunity Zones in Erie. The network will also support law enforcement efforts.

The current investment may be used to support an OaaS initiative in Kerala, India, that seeks to drop traffic fatalities on the region’s roads. By using IoT technology to increase the level of traffic law enforcement, Quantela hopes to help the state of Kerala drop traffic accidents that lead to fatalities.

The Founder and Executive Chairman, Quantela Inc., Sridhar Gadhi, commented on the investment by Digital Alpha,

“While Quantela has been growing exponentially since inception, the funding will enable us to expand our global presence faster through a combination of acquisitions and new OaaS projects, creating greater impact for societies.”

The OaaS model allows companies like Quantela and Digital Alpha to share in the responsibility of achieving outcomes in the projects they participate in with both investments, and IoT systems. It is an example of a ‘skin in the game’ model that may bring a company and their clients’ goals closer together.

Instead of simply delivering a product to a client, the OaaS model puts responsibility on the company to help the client achieve their economic, social, and environmental sustainability goals. While it is a new system, the ideas behind the OaaS model are promising.

By Nicholas Say Nicholas Say has been verified by Muck Rack's editorial team

Nicholas Ross Say is a news desk editor at Grit Daily. An award-winning journalist, he covers the daily startup beat. He grew up in Ann Arbor, Michigan and has lived in South America and South East Asia. At present, Nicholas lives in Southern Vietnam where the Sun shines, and the noodles flow like wine. He's written for Blockonomi and Coin Journal, among others.

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