Cubic Telecom is a managed connectivity supplier to the IoT and automotive sectors. On 18 July it announced an EUR23.5 million investment from the European Investment Bank to develop its software connectivity platform PACE. This brings the total EIB investment in Cubic to EUR100 million.
Barry Napier, Cubic’s CEO, said that the investment will be used to enhance Cubic’s connectivity services and analytics platform, and will support expansion.
“With this investment from the European Investment Bank, Cubic will deliver on its software roadmap to enable any cloud provider secure global connectivity directly on the chipset, hardware or device while having ‘5G-ready’ to optimise future functions”, said Napier.
Cubic Telecom’s software platform currently spans more than 180 countries and 75 mobile operator partnerships. Cubic provides eSIMs that allow applications and technologies to be embedded into devices at the manufacturing stage, enabling simpler logistics and Over-The-Air software updates. This gives manufacturers visibility into the device’s performance through data analytics.