Airbiquity Inc. today announced it has closed on $25 million in
new funding that will help to support the company´s rapid growth. The
growth is being spurred by industry demand for its wireless data
communications solutions currently deployed in more than eight million
vehicles, enabling applications such as airbag notification, remote
diagnostics, vehicle tracking and offboard navigation. The new funds
will be used primarily to support Airbiquity´s new and existing
customers in their global expansion initiatives. Airbiquity will also
use the funding to enter into the personal navigation device (PND)
market and to bolster the development of the company´s VIAaq managed
data service which they announced in May 2007. The VIAaq service will
launch with an automobile manufacturer in mid-2008.
For the latest round of funding, Airbiquity´s current investors,
Acorn Ventures, Kirnaf LTD and Shell Internet Ventures, have been
joined by Bellevue-based Ignition Partners. With extensive experience
in the global wireless industry, Ignition Partners will provide
important industry insights as Airbiquity continues to expand its
international partner and customer portfolio.
"We´ve been monitoring Airbiquity´s momentum for years," said
Steve Hooper, a founding partner of Ignition Partners. "Their recent
performance and growth plans created an ideal opportunity for Ignition
Partners to add another emerging technology leader to their investment
portfolio."
Ben Khudair, President of Kirnaf LTD, said, "We´re happy to
welcome Ignition Partners to the Airbiquity family. 2007 proved to be
an exciting year for Airbiquity, and we are looking forward to an even
more eventful 2008."
Airbiquity´s leadership team began to pursue new investment
opportunities after a successful year that included major partnership
and customer deals with industry players from around the globe looking
to use Airbiquity´s aqLink software in their telematics solutions. The
aqLink technology uses the digital wireless voice channels for data
transfer rather than relying on conventional wireless data transfer
channels, expanding coverage areas and making data transmission more
cost effective. Airbiquity´s recent progress includes:
-- The extension of Airbiquity´s long-term contract with
telematics leader OnStar to provide aqLink in all future
OnStar-equipped vehicles.
-- BMW of North America, LLC´s integration of Airbiquity´s
technology into its BMW Assist system for time-critical
emergency applications that include automatic collision
notification.
-- Use of aqLink in the successful pan-European eCall Feasibility
Trial, opening the door to major automotive safety programs
across Europe in the coming years. Partners in the trial
included ADAC, Continental Automotive Systems, T-Mobile, Adam
Opel, Automobile Club d´Italia, and the OAMTC.
-- Partnership with Wavecom SA to integrate Airbiquity´s GSM and
CDMA in-band modem software technology into Wavecom´s
automotive and M2M wireless CPU(R) product line for
automotive, industrial (machine-to-machine) and fleet
management applications.
"Vehicle-centric information and communication technologies
(Vehicle ICT) are becoming real," says Thilo Koslowski, vice president
and lead automotive analyst at Gartner Inc. "Over the next year the
majority of vehicle manufacturers will finalize their individual
Vehicle ICT strategies and select competent technology partners to
meet financial goals and create competitive differentiation."
Over the next year, Airbiquity will manage the first deployments
of its recently announced VIAaq telematics service, an end-to-end
communication system for the automotive and personal navigation
industries. Built on aqLink technology, VIAaq provides the benefits of
voice channel data transfer as well as access to, and hosting of, a
variety of telematics services. Airbiquity´s patented aqLink modem
enables low-cost, two-way data connectivity on personal navigation
devices through the use of a consumer´s handset and the device´s
Bluetooth Hands-free profile. Services supported through Airbiquity´s
partner program include real-time traffic and navigation, concierge
services, emergency calling features and more. The VIAaq solution
accelerates OEM telematics launch schedules and significantly reduces
operation and maintenance expenses associated with hosting or managing
an independent data center, thereby lowering the overall cost of entry
into the telematics arena. VIAaq´s managed data service provides a
flexible architecture to allow for expanded service offerings as
mobile technologies grow and change over time.
"The last two years have set the stage for major growth both
within Airbiquity and the telematics industry as a whole. I am proud
to say that Airbiquity now has four of the world´s leading automobile
manufacturers in its customer portfolio, demonstrating the exemplary
performance of this company," said Kamyar Moinzadeh, president and CEO
for Airbiquity. "The latest round of funding will allow us to develop
VIAaq to its fullest potential while continuing to support demand for
aqLink projects worldwide. The company is extremely pleased to have
Ignition Partners as an investor."
About Airbiquity Inc.
Airbiquity provides wireless data communications solutions that
enable product suppliers and service providers in the M2M and
telematics industries to deliver reliable and ubiquitous wireless data
services. Used by some of the largest automotive manufacturers
globally in their telematics service offerings, Airbiquity´s patented
aqLink technology provides data communications over digital wireless
voice networks. VIAaq, Airbiquity´s turnkey managed telematics data
service, provides seamless connectivity between telematics service
providers and a vehicle or PND device for a relatively low cost of
entry. Airbiquity was recently selected as one of the top 100 M2M
companies for 2008. To learn more about Airbiquity, please visit their
web site www.airbiquity.com.
Airbiquity, aqLink and VIAaq are trademarks of Airbiquity Inc.
