Ireland-based mobile technology developer Cubic Telecom raised $5m yesterday from wireless technology company Qualcomm and venture capital firm machine-to-machine technology company Sierra Wireless.
Founded in 2008, Cubic develops mobile connectivity technology that enables machines and people to communicate more effectively.
Cubic has now raised $15m in total funding, with its last round consisting of $5.2m raised in May 2013 from Qualcomm, ACT Venture Capital, TPS Investments and state-backed fund Enterprise Ireland.
The company intends to spend the cash in upgrading its software platform and global network, while expanding internationally. It also plans to begin raising a new $15m funding round.
Sierra Wireless CEO Jason Cohenour said: “Our investment will enable Cubic to accelerate the expansion of its global platform, enabling our joint customers to more rapidly adopt cellular wireless connectivity for both enterprise and internet of things applications.”