Business Irish

Wednesday 21 August 2019

Dublin telecoms firm gets €23.5m from European Investment Bank

Barry Napier, CEO of Cubic Telecom
Barry Napier, CEO of Cubic Telecom
Adrian Weckler

Adrian Weckler

Cubic Telecom, the Dublin-based telecoms software firm, has announced a €23.5m investment loan from the European Investment Bank.

The loan can either be converted into equity or paid back in full, said chief executive and founder Barry Napier.

Cubic Telecom has 140 staff in six offices worldwide and is privately held. It has received close to €80m in funding.

Existing Investors in the group include Audi Electronics Venture, Qualcomm, Valid, Enterprise Ireland and the Ireland Strategic Investment Fund.

The company has agreements with 78 mobile networks around the world, which it uses to help companies connect their products or services online.

It’s technology has been rolled out in several car companies, including Audi and Volkswagen.

It has also formed a close working relationship with Microsoft and recently announced a ‘cloud to chip’ solution.

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