Quantela plans to onboard 100 cities by March next year
Invest India Managing Director and CEO Deepak Bagla at the event emphasised the need for smart technology solutions to handle urbanisation taking place in the country.
Startup firm Quantela today said it expects to have 100 cities globally using its IT platform by the end of this fiscal and break-even by 2020-21.
"Being a startup our growth rate is very high. We expect to have 100 cities as our client by end of this financial year," Quantela, Founder and CEO, Sridhar Gandhi today said.
He was talking on the sidelines of a partnership arrangement with the University of California Berkeley for start-up accelerator programme.
"Under the accelerator program, we plan to select around 10 start-ups every year who will use our technology platform and will be mentored by the University of California Berkeley for product development and market access," Gandhi said.
He said that company has an artificial intelligence platform for smart-cities where it integrates solution of other vendors for controlling various systems in smart cities like street lighting, waste management, parking, water management etc.
"We have invested USD 6 million till date in developing our technology. We expect to break even by 2020-21," Gandhi said.
"In next 5-7 years, we would have created another USA. We will have over 300-350 million people moving to our urban township. It is, in fact, unprecedented rural-urban peaceful migration in the history of the human world," Bagla said.
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