Globetouch, an Oakland, CA-based provider of connectivity services and Internet of Things (IoT) platforms for the connected vehicle and the IoT market, is raising $40m in Series C funding.
The company has secured a large part of the funding round already, with new investors Hermes Growth Partners, Spark Telecom Ventures and Wholesale and Impact Venture Capital. The existing shareholders joining this round include Verizon Ventures and Zeev Ventures.
These investors join mobile operators CK Hutchison Holdings Ltd, NTT DoCoMo and Digicel.
The company intends to use the funds to enhance its services and market share of the connected car market, extend the ecosystem of manufacturers, OEMs, consumer service providers and fleet owners for partnering and exchanging the services and products used during the lifecycle of a connected vehicle, and grow into other verticals, including logistics, industrial IoT, and healthcare.
Led by Riccardo Di Blasio, CEO, Globetouch provides global cellular connectivity for the realization of IoT and M2M services with 400+ network operations in over 180 countries through one connection serving multiple vertical markets, including automotive, heavy industry and IT manufacturers.