Cubic Telecom, a Dublin, EIRE-based global Internet of Things (IoT) connectivity platform company, raised $47M in Series C funding.
The round, which brings the total funding to $88M, is funded by previous investors Qualcomm Incorporated and Audi Electronics Venture GmbH, a subsidiary of AUDI AG, and new investors Valid Soluciones Tecnologicas and Ireland Strategic Investment Fund.
The company intends to use the funds for market and engineering capability expansion.
Founded in 2006 and led by Barry Napier, Chairman and CEO, Cubic Telecom provides mobility solutions that power connectivity for IoT, machine-to-machine (M2M) and connected device companies across the globe, including autonomous vehicle technologies and innovative LTE connectivity solutions. The company’s global tier-one network delivers high-speed 4G LTE voice and data services in partnership with over 30 mobile operators spanning more than 180 countries.
The company counts original equipment manufacturers (OEMs), technology and automotive companies as customers, including Audi, Volkswagen, Porsche, HP, Lenovo, Panasonic, Rakuten, Woolworths and Qualcomm Technologies, a subsidiary of Qualcomm Incorporated.