Cisco: $1 billion initiative to fund smart cities

ciscoBy Accommodation Times Bureau


Cisco has announced a $1 billion programme to help city planners adopt technologies that will transform their communities globally.

The funding will be provided through Cisco Capital, Cisco Systems’ investment arm, in partnership with private equity firm Digital Alpha Advisors and pension fund investors APG Asset Management (APG) and Whitehelm Capital. Under the “City Infrastructure Financing Acceleration Programme”.

According to Anil Menon, Global President of Cisco’s Smart+Connected Communities, “Funding is a major stumbling block for municipalities beginning their smart city transformation.”

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