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Wheelings and Dealings: Cubic Telecom Secures Investments from Audi and Qualcomm

By Ken Briodagh May 07, 2015

Cubic Telecom, a global M2M connectivity platform provider, has secured a $20 million investment from Audi Electronics Venture and Qualcomm Incorporated, a world leader in 3G, 4G and next-generation wireless technologies.

Qualcomm has invested in Cubic three previous times, and Audi has now joined Sierra Wireless, ACT Venture Capital, TPS Investment Limited and Enterprise Ireland as key partners with the cloud platform company. With this round of financing, Cubic Telecom will continue to invest in developing its software platform and global connectivity network, and add focus toward expanding its operations to meet the requirements of its rapidly expanding global customer base.

“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,” said Peter Steiner, Head of Audi Electronics Venture.

Cubic Telecom creates global connectivity solutions for enterprise customers in the automotive, computer OEM and retail sectors. The company’s solutions are embedded during manufacturing so that customers can offer always-on connectivity anywhere in the world.

“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 M2M modules,” said Paul Fiskness, SVP, Qualcomm Structured Finance and Strategic Investments Group. “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.”




Edited by Dominick Sorrentino
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