The global Machine to Machine (M2M) connectivity platform provider, Cubic Telecom has secured a €18 million co-investment from Audi AEV and Qualcomm, investing in Cubic’s leading cloud-based M2M platform. This is Qualcomm's fourth investment in Cubic, highlighting the strength of the partnership between the two organizations.
Cubic Telecom will continue to invest in its unique software platform and global connectivity network, in addition to focusing on expanding its operations across the world to meet the demands and global footprint requirements of its rapidly expanding customer base.
Ireland -based Cubic Telecom said that the company is focused on enabling seamless global connectivity solutions for enterprise customers across automotive, computer OEM and retail sectors. Cubic's applications and technologies are embedded at the manufacturing stage, enabling enterprise customers to offer always-on connectivity anywhere in the world.
Peter Steiner, Head of AEV
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.
Paul Fiskness, Senior Vice President of Qualcomm’s Structured Finance and Strategic Investments Group
Cubic's unique technical solution and network reach are ideally suited for the connectivity needs of a variety of products distributed on a global scale, including automobiles, laptops / tablets, medical devices and IOT / M2M modules. As an early stage investor in Cubic, Qualcomm is very excited to be partnering with Audi and is looking forward to collaborating with Audi in the future.
Barry Napier, CEO, Cubic Telecom
We appreciate the investment from Audi and Qualcomm as we continue to expand our market presence. 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.
