Ireland’s Cubic Telecom signs agreement with Australia’s Telstra
Dublin-based Cubic Telecom, which connects cars and computers to mobile networks, has signed a memorandum of understanding with Australia’s Telstra Wholesale.
Cubic’s partnership with Telstra will enable in-car access to a suite of infotainment apps and a Wi-Fi hotspot throughout Australia via Cubic's integrated e-SIM and software platform.
Cubic, which already provides connectivity in over 100 countries, said that the deal was a "significant milestone" for the company, that complimented its overall Asia-Pacific roll-out strategy.
"We are delighted to join forces with Telstra Wholesale, the leading wholesaler of telecommunications and network services in Australia.
Together we are enabling our global automotive customers to roll-out an exciting and robust in-car connectivity solution for drivers in Australia," Barry Napier, CEO of Cubic Telecom, said.
Cubic Telecom has been supported in its growth by Enterprise Ireland, and Julie Sinnamon, CEO of Enterprise Ireland, described the company as a great example of how innovative Irish companies can successfully enter and scale in new markets.
"This is a tremendous milestone for Cubic Telecom, a company that Enterprise Ireland has been supporting to achieve its global ambition.
Irish companies are ranked as some of the leading innovative companies in the world and it’s this key competitive advantage that they bring to markets worldwide," Ms Sinnamon said.
The deal signing ceremony formed part of the Irish Government trade mission to Australia, led by President, Dr. Michael D. Higgins.
In August Cubic raised €40m in venture capital, one of the highest funding rounds ever by an Irish tech firm.
The new round brings the company’s total funding close to €80m.
The company’s backers include Audi, chip company Qualcomm and the Ireland Strategic Investment Fund (ISIF). The Brazilian tech firm Valid is a new investor.