Irish IoT connectivity platform Cubic Telecom has just closed a $47 million Series C round. The new funding comes from existing investors Qualcomm and Audi Electronics Venture, and new investors Valid Soluciones Tecnologicas and the Ireland Strategic Investment Fund (ISIF). The startup has raised $88 million to date.
Cubic's mobility solutions provide connectivity for IoT, machine-to-machine (M2M), and connected device companies across the globe. The company is working to develop autonomous vehicle technologies and LTE connectivity solutions.
Cubic already delivers high-speed 4G LTE voice and data services in partnership with over 30 mobile operators across more than 180 countries. The company counts major technology and automotive companies among its customers, including Audi, Volkswagen, Porsche, HP, Lenovo, Panasonic, Rakuten, Woolworths, and Qualcomm Technologies.
"Without exception, our customers are committed to providing an intelligent connectivity experience to their end-users, and today's announcement will help Cubic continue to deliver on that promise," said Barry Napier, CEO, in a statement.
Cubic says the new investment will be used to make continued improvements to its IoT platform, and to expand its engineering facilities and create more jobs at its headquarters in Dublin.
Read more: Market Wired (Press release)