Cisco is launching a $1 billion City Infrastructure Financing Acceleration Program to help municipalities around the world to adopt smart city technologies. The funding will be provided through Cisco Capital in partnership with private equity firm Digital Alpha Advisors and pension fund investors APG Asset Management (APG) and Whitehelm Capital.
“Funding is a major stumbling block for municipalities beginning their smart city transformation,” said Anil Menon, Global President of Cisco’s Smart+Connected Communities. “With our partners, Cisco will bring the capital and expertise it takes to make smart city projects a reality. Digital Alpha, APG, and Whitehelm Capital bring a fresh perspective on investment in an area that has previously been perceived as too new and, therefore, too difficult to finance.”
Cisco has recently renamed its connected digital platform as “Cisco Kinetic for Cities” and added features to support public safety. The platform now supports real-time notification of emergency information, drawing on IoT data sources and Cisco Spark Collaboration tools.
