Deal Of The Day: Cubic Telecom Secure €18 Million Investment

Cubic Telecom DublinGlobe.com

This Just In: Dublin-based M2M connectivity platform provider Cubic Telecom has secured a €18 million co-investment from Audi Electronics and Qualcomm. The official announcement:

DUBLIN, Ireland, INGOLSTADT, Germany & SAN FRANCISCO, Calif. – (May 6, 2015) Cubic Telecom, a global Machine to Machine (M2M) connectivity platform provider, today announced that it has secured a €18 million co-investment from Audi Electronics Venture GmbH (AEV), a subsidiary of AUDI AG focused on investing in innovative technologies, and Qualcomm Incorporated (QCOM), a world leader in 3G, 4G and next-generation wireless technologies.

AEV and Qualcomm have invested in Cubic’s leading cloud-based machine-to-machine (M2M) platform. AEV will join existing investors Sierra Wireless, ACT Venture Capital, TPS Investment Limited and Enterprise Ireland.

The Irish Independent adds:

The company, run by entrepreneurs Barry Napier and Gerry McQuaid, also recently struck a deal last week with Digicel, the mobile operator run by businessman Denis O’Brien across the Caribbean, Central America and Asia Pacific. The deal will see Cubic’s technology used to allow ‘machine-to-machine’ communications across Digicel’s 33 markets.

MORE: Cubic Telecom raises €18 million in funding from Audi and Qualcomm (Tech.eu)

MORE: Cubic Telecom completes new €18m funding round (Irish Independent)

MORE: Audi and Qualcomm invest €18m in Irish start-up Cubic Telecom (Silicon Republic)

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