Audi and Qualcomm invest €18m in Irish start-up Cubic Telecom

6 May 20151 Share

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Audi is taking a bet on the digital future by investing in embedded M2M player Cubic Telecom

Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestShare on RedditEmail this to someone

Machine-to-machine connectivity player Cubic Telecom has secured an €18m investment from Audi Electronics Venture GmbH and Qualcomm to put 3G and 4G connectivity in Audi vehicles.

Audi Electronics Venture (AEV) and Qualcomm have invested in Cubic’s leading cloud-based machine-to-machine (M2M) platform.

The head of AEV Peter Steiner said that the deal will see M2M technology embedded in future Audi models.

“Audi and Cubic Telecom are strong development partners of new infotainment solutions and intend to connect the models of the Audi brand even better with its environment and the internet in the future.”

This is Qualcomm’s fourth investment in Cubic. AEV joins existing investors including Sierra Wireless, ACT Venture Capital, TPS Investment Limited and Enterprise Ireland.

Embedded and connected

Cubic’s technologies are embedded at the manufacturing stage, enabling enterprise customers to offer always-on connectivity anywhere in the world.

The Dublin-based company is actively working with some of the world’s leading Fortune 100 tablet and notebook manufacturers including HP and Lenovo, and Australia’s number one retailer Woolworths.

“We appreciate the investment from Audi and Qualcomm as we continue to expand our market presence,” said Cubic Telecom CEO Barry Napier.

“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.”

Audi image via Shutterstock

66

DAYS

4

HOURS

26

MINUTES

Buy your tickets now!

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com