Irish autotech firm celebrates investments and new jobs

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  • An Irish mobile tech company has welcomed the raising of $40m (£35m) as it continues to push forward with new investments, creating more jobs. Cubic Telecoms have announced their success after the latest funding round which currently values the firm at €200m.

    The Dublin-based firm have announced their plans to aim for a further $40m in investment as it proceeds to strengthen its role in driverless car technology. Thus far, Cubic Telecoms have a range of major investors, including industry giants Qualcomm and Audi.

    Following a major deal negotiated with Tesla’s Elon Musk, Cubic Telecoms secured a contract to install the firm’s technology in all 7,500 Tesla vehicles sold across China. According to reports in the media, Cubic Telecoms also count Microsoft and Volkswagen amongst its customers.

    Just last year Cubic Telecoms unveiled a virtual SIM card that allows 100Mbps high-speed internet outdoors, allowing drivers, passengers and travellers to avail of online services. Services allowed by Cubic’s global connectivity platform include Google Street View, parking and traffic information as well as email, calendar and social media integration. It is believed that these features have been installed in all new Audi road cars.

    Cubic Telecoms’ expansion of services created 60 new jobs in the firm’s Dublin headquarters, increasing its workforce from 80 to 140 employees.

    When addressing a conference last year, Microsoft CEO Satya Nadella referred to Cubic Telecom as “a fantastic example of an Irish start-up that not only has built something that is significant for Europe, but worldwide”. Nadella continued his praise of the Irish firm, insisting upon Cubic Telecom’s growing reputation as an innovating internet of things (IoT) company bringing its expertise to the global stage.

    In 2015 Cubic Telecom secured an €18m investment from Audi Electronics Venture GmbH and Qualcomm to put 3G and 4G connectivity in Audi vehicles. In June, it emerged that Cubic Telecom was selected by Audi to put power wireless connectivity in all of their new cars, including the A3, A4, the new A5, the Audi Q2 and the Q7.

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