Brazil-based big data technology provider WebRadar has secured R$40m ($10.1m) in funding from Qualcomm Ventures, the corporate venturing vehicle for wireless technology specialist Qualcomm and growth equity firm DGF Investments.
Founded in 2008, WebRadar produces big data technology for use in internet of things (IoT) products in the telecom, energy and transport industries. It operates in eight markets across North America, Latin America and Europe.
WebRadar previously received an undisclosed amount of funding in 2013 from Intel Capital, which acts as semiconductor manufacturer Intel’s corporate venturing arm, and virtualisation product maker Citrix.
Adriano da Rocha Lima, WebRadar’s CEO, said the funding would support product development and expansion in Europe and North America. The company is also considering expanding its product offering to compete in additional verticals.
Carlos Kokron, vice president of Qualcomm Ventures, Latin America, added: “WebRadar has emerged as a strong company that helps global operators to improve their network quality as well as being a catalyst for the internet of things. That is why we are providing this financial investment alongside DGF.”