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SEATTLE, Wash. – (January 22, 2008) – 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 ÖAMTC.
- Partnership with Wavecom SA to integrate Airbiquity’s GSM and CDMA
in-band modem software technology into Wavecom’s automotive and M2M
wireless CPU® 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.
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Airbiquity, aqLink and VIAaq are trademarks of Airbiquity Inc.
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