California-based Quantela Inc., a smart city-focused firm, has entered into an agreement to gain management control of the Indian business of TerraCIS Technologies Ltd. This agreement will further expand the economic, social, and environmental outcomes Quantela can offer through digitisation and data-driven insights, the company said in a statement on Wednesday.
This deal gives Quantela, a Silicon Valley-based outcomes-as-a-service firm that specialises in digitisation of urban infrastructure, immediate access to digital land registration and records management, further expanding its set of offerings, the it said.
“This is our second transaction in three months...Our immediate focus is to onboard the TerraCIS teams and integrate our tools and processes, whilst maintaining our commitments to existing customers and partners. Quantela association will provide existing TerraCIS customers with the security of working with a larger company and the opportunity to take advantage of our additional offerings to achieve greater outcomes,” said Amr Salem, Chief Executive Officer, Quantela.
In August this year, Quantela had announced acquisition of Massachusetts (US)-based CIMCON Lighting, Inc., a leader in smart lighting and smart city technologies.
Last year, Quantela bought a minority stake in cognitive multimedia analytics firm Graymatics.
With the support of Gateway Partners, Avenue Capital Group and other investment partners, Quantela will assume immediate operational control of TerraCIS’ business in India, and full ownership through a restructuring process in due course, the statement said.
This agreement further enables Quantela to improve outcome-based business models for governments and cities, to help reduce the time and costs spent on the traditionally manual processes of land registration and records management by digitisation.
Gurugram-based TerraCIS Technologies Ltd is a global information technology and services company that provides IT solutions for efficient citizen service delivery and smart governance, through smart infrastructure.
Founded by Sridhar Gadhi in 2015, Quantela offers outcome-based business models through technologies like digital advertising, smart lighting, smart traffic, and digitised citizen services. The startup is backed by other investors such as Digital Alpha and Energy Impact Partners, among others.
“This agreement for TTL in India creates an exciting addition to our existing offering suite as we can combine our smart city expertise to bid for significantly larger projects with greater community impact in India and beyond. At the same time, we can leverage Quantela’s global presence to extend our digital land registration and records management offering worldwide,” said Gadhi.
Quantela also maintains a presence in India. In March 2019, the firm partnered with the Ministry of Housing and Urban Affairs to set up the India Urban Observatory. This entity leverages data analytics for optimising city operations, improving governance, and enhancing the economic performance of cities across the country.
In June this year, Quantela had closed a $40 million growth capital funding from Digital Alpha, a digital infrastructure investment firm, for its new Outcomes-as-a-Service projects and acquisitions.