Quantela partners with Digital Alpha and Starlite Media for USD 50 Million to revolutionize retail media networks
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uantela, an urban infrastructure solution provider, and Starlite Media, a leading retail media network, announced today a strategic partnership to drive, expand and optimize Starlite's digital retail media network. Digital Alpha, the lead investor, will provide the capital required for the project.
Quantela is currently collaborating with several states in India, including Kerala, Orissa, Rajasthan, West Bengal, and Madhya Pradesh, to enhance citizen services and facilitate digital transformation. The company is actively seeking opportunities to expand its operations and make further investments towards similar initiatives in India. Starlite Media's network has over 6,000 media assets in the top 20 Designated Market Areas. Through the partnership with Quantela, Starlite plans to add more than 5,000 new digital media assets over the next three years to reach more than 10,000 strong networks. Currently, Quantela is pursuing opportunities worth $200Mn with various state governments and private enterprises to be closed over next 12-18 months.
Starlite Media will leverage Quantela's data analytics, and visualization capabilities to optimize and expand its retail media network. Quantela's Platform will provide insights into consumer behavior, preferences, and buying patterns, which will help Starlite develop highly targeted and personalized campaigns that drive sales outcomes and increase brand awareness. Furthermore, this partnership will unlock new revenue opportunities for Starlite, allowing them to expand their offerings to deliver more value to advertisers, retailers, REITs, and other shopping center owners.
"Quantela's extensive experience in handling data for large urban infrastructure projects allows us to analyze Starlite Media's data and give them priceless insights to optimize their network and increase their revenue from every asset. With support from our financing partner, Digital Alpha, we created an offering that delivers great outcomes with a real positive impact on Starlite Media's business," said Sridhar Gadhi, Founder and Executive Chairman of Quantela.
"The opportunity in retail media is greater than ever. Industry leaders, such as Walmart, Amazon, Criteo, and The Trade Desk, have touted the enormous potential of digital media that is augmented by advanced analytics. Starlite Media is poised to benefit greatly from this trend," said Harold Lueken, Starlite's CEO.
"Our partnership with Quantela is a game-changer for Starlite, enabling us to leverage their data-driven platform and analytics capabilities to deliver unparalleled value to our clients. As more retailers use digital media programs, the demand for effective messaging and integration is ever increasing. Starlite is now positioned to meet this demand with its state-of-the-art, large format digital displays. With this partnership, we have the resources to grow the size of our digital network to meet all media buyers' expectations and to maintain Starlite's leadership position in the out-of-home retail media space, which industry leaders have termed the 'Best in Class'," Lueken added. "As a leading investor in digital infrastructure, Digital Alpha is thrilled to support Quantela's innovative partnership with Starlite Media. We are confident in the revenue potential of this unique approach and excited to invest $50 Million in the project, with an aspiration to expand this initial investment in deployment over additional phases, as we continue to expand our digital screen network across the country. We are excited to partner with real estate groups that can provide access to a larger footprint of screens and help us achieve our goals. By leveraging our expertise in funding technology-driven solutions, we believe this partnership will drive significant growth and value for both parties," said Rick Shrotri, Founder and Managing Partner at Digital Alpha.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article.
✔️ Quantela partners with Digital Alpha and Starlite Media for USD 50 Million to revolutionize retail media networks
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