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