Dublin based company, Cubic Telecom has today announced that it has secured a €18 million co-investment from Audi Electronics Venture GmbH (AEV), a subsidiary of AUDI AG focused on investing in innovative technologies, and Qualcomm Incorporated (QCOM), a world leader in 3G, 4G and next-generation wireless technologies.
Cubic Telecom is a cloud-based M2M connectivity platform provider, focused on enabling seamless global connectivity solutions for the IoT and enterprise customers. The company’s applications and technologies are embedded into the device at the manufacturing stage, enabling always-on connectivity anywhere in the world. Cubic’s success is based on its global connectivity and robust real-time billing/rating engine, unique software applications and cloud based management platform.
With this round of financing, Cubic Telecom will continue to invest in its unique software platform and global connectivity network, in addition to focusing on expanding its operations across the world to meet the demands and global footprint requirements of its rapidly expanding customer base.
CEO of Cubic Telecom, Barry Napier said, "We appreciate the investment from Audi and Qualcomm as we continue to expand our market presence.
The automotive industry is changing faster than ever, and connectivity in the car is at the heart of it. With this new round of financing, Cubic Telecom, along with our strategic partners, will be at the core of this transformative new phase for the automotive industry."
Source: www.businessworld.ie
