Softbank invest €473m in Cubic Telecom
Softbank invest €473m into Cubic Telecom
“Today’s announcement marks a significant milestone for our team and stakeholders, and we’re excited to partner with SoftBank to pioneer the future of software-defined connectivity,” said Barry Napier, CEO at Cubic Telecom. “The focus on software rather than hardware means manufacturers can increase the value of a vehicle or device by adding new functionality, over-the-air, which will improve safety, comfort and performance. This, alongside the opportunity AI presents, will open up new collaborations and business models. The opportunities ahead of us are endless.”
The mission for Cubic is to be the global connectivity software platform that powers vital connectivity for leading IoT, automotive, and mobile device companies across the globe.
We first met Barry over a decade ago and were so impressed with his unbridled ambition and focused execution that we invested the largest seed investment we possibly could. When the opportunity arose to support Cubic again, we again invested the largest possible expansion investment we could.
They have come a long way, but we still believe they are only getting started. We welcome Softbank to the fold and believe the most exciting chapter for the company is still to come.
Cubic is a prime example of the indigenous innovation that Ireland needs over the next decade. Seeing the growth and the talent the company has attracted, has us more optimistic than ever about the future of Ireland’s innovation economy. This optimism drives our actions through our sixth and current fund, as we continue to focus on backing the next generation of breakthrough companies and ambitious founders. We want to find the best company builders at the earliest stages and continue to back them again and again.
Great companies are built by great founders and teams. We couldn’t be more delighted for Barry and the Cubic team as they welcome Softbank, and we look forward to seeing what new heights can be accomplished together.