Cubic Telecom, a Dublin, Ireland-based connectivity management supplier to the Internet of Things and automotive industries, secured $26.4m in a loan.
The European Investment Bank (EIB) provided the financing, which brings Cubic Telecom’s total funding raised to date to $112m.
The company intends to use the funds for further development of its software connectivity platform – PACE – through investments in R&D.
The funds will enhance Cubic’s connectivity services and analytics platform to continually address the needs of the automotive market and the wider IoT ecosystem, support its software platform and global network operations expansion and incentivize the creation of new jobs in software and network engineering.
Led by CEO Barry Napier, CEO, Cubic Telecom is a global connectivity management supplier that offers mobility solutions powering connectivity for Internet of Things (IoT), automotive and mobile device companies across the globe.
An expert in Connected Intelligence, the company provides connectivity in over 180 countries, network, device and retail partnerships worldwide; and flexible Over-The-Air (OTA) device management for clients and partners.
Partners and customers include some of the world’s leading Fortune 100 tablet and notebook manufacturers, retailers, and automotive companies such as Audi, Panasonic, Volkswagen, Woolworths, e.GO and Skoda.