Connected Car Services Startup Zubie Attracts USD8 Million in New Funding Round Led by Nokia Growth Partners

Connected Car Services Startup Zubie Attracts USD8 Million in New Funding Round Led by Nokia Growth Partners

As the connected car market picks up, more partnerships are being formed between auto-makers, service providers, operating system providers and application makers. Newer technologies and operating systems that integrate in-vehicle applications to the car’s in-built platforms and enhance the vehicle connectivity and drivers’ experience are being sought after in a market that is experiencing rapid growth in demand.

A leading startup in this segment, Zubie, which offers connected car services announced recently that it has raised USD8 million from investors for the development of its unique car and driver management system which includes robust trip and vehicle analytics. Zubie received the funding from Nokia Growth Partners, which invests in companies in this space and Magna International, a leading global automotive supplier with 315 manufacturing operations and 82 product development, engineering and sales centers in 29 countries. In addition, NGP’s Partner, Paul Asel joins Zubie on its Board of Directors. This funding round also saw the participation of Zubie’s existing investors, Castrol innoVentures, Comporium and OpenAir Equity Partners.

Zubie, in its statement said that it expects the connected car market to reach USD131 by 2019. It said that Zubie’s AlwaysSmart(TM) proprietary technology offers the ability to extract and analyze data about driving behavior and engine health in order to boost safety and provide information that will allow the driver to save costs on the journey. Zubie added that its customer base and partnerships have expanded to cover Fortune100 companies. Zubie is available for purchase from  Zubie.com, Amazon, Best Buy and Newegg.

The Connected Car Fund anticipates the potential for disruptive innovation in the automotive sector as the most significant unconnected mobile asset comes online. We are delighted to inaugurate the Connected Car Fund with an investment in Zubie. Zubie has a proven management team and promising technology that offers the potential to help transform our driving experience as it integrates more deeply with carmakers over time.”

 Paul Asel, Member, Board of Director, Zubie 

The era of the connected vehicle is expected to change the automotive landscape and create new value-creation opportunities for auto suppliers, inventors, startup companies and owners of intellectual property. Magna is investing in technologies, such as Zubie, that have the potential to deliver novel solutions to the automotive market.”

–  Swamy Kotagiri, Chief Technical Officer, Magna International

“We are honored to receive support from NGP and Magna. These companies share our views on the potential of the market and the right strategy to drive mass consumer adoption — making them the perfect partners to help us grow. In conjunction with our investors, Zubie will help global consumers and fleet owners alike to make driving smarter, safer and more affordable.”

 

–  Tim Kelly, CEO, Zubie

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