Zubie, a US-based technology company which makes the Zubie Key, a car onboard diagnostics dongle designed to connect to a Zubie App, has raised $10m series A funding from Castrol InnoVentures, a strategic investment unit of Castrol Lubricants, communications company Comporium, and venture capital firm OpenAir Equity Partners.
Previously, in September 2013, news emerged that Zubie had raised $8m series A funding from venture capital firm OpenAir Equity Partners and an unnamed investor.
Jonathan Tudor, team value creator for Castrol InnoVentures, has joined the board of Zubie.
Angel Gambino, smart mobility manager for Castrol InnoVentures, who has become an observer of the Zubie board, said: “Our investment in Zubie reflects our ongoing interest in technologies that have significant potential to offer a predictive, timely, contextual, convenient and simple capability to the mobile consumer of the future. Zubie converts a car into a mobile information and communication platform upon which Castrol can build services. Working with Zubie will benefit our core Castrol business with large amounts of data, new insights and a real time direct connection with consumers, new revenue streams and also fits with in our investment strategy.”
Tim Kelly, Zubie chief executive officer, said: “Zubie is perfectly poised to be the point of connection where consumers can save time and money and providers can better understand consumer needs and provide compelling offers. We’re very excited that innoVentures and have seen this potential.”