US News: Airbiquity announces $25m funding

US News:  Airbiquity announces $25m funding

Airbiquity has closed on $25 million in new funding that will help to support its rapid growth.

Nice start to the year for John Atherly, who was appointed Airbiquity’s new chief financial officer on January 10th.

During Atherly’s twenty-year career in the software development and technology industry (including CFO for both eMagin Corp and Click2learn), he has raised more than $200 million in financing for his companies.

Airbiquity’s growth is being spurred by industry demand for its wireless data communications solutions, currently deployed in more than eight million vehicles, which enable 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 PND market and to bolster the development of the company’s VIAaq managed data service, which was announced in May 2007. The VIAaq service will launch with an automobile manufacturer in mid-2008.

Airbiquity’s recent progress includes:

  • The extension of its long-term contract with OnStar to provide aqLink in all future OnStar-equipped vehicles.
  • BMW of North America’s integration of Airbiquity’s technology into its BMW Assist system for time-critical emergency applications that include automatic collision notification.
  • The 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.
  • The integration of Airbiquity’s GSM and CDMA in-band modem software technology into Wavecom’s automotive and M2M wireless CPU® product line for automotive, industrial and fleet management applications.

“Vehicle-centric information & communication technologies (Vehicle ICT) are becoming real,” says Thilo Koslowski, vice president & lead automotive analyst at Gartner. “Over the next year, the majority of vehicle manufacturers will finalise their individual Vehicle ICT strategies and select competent technology partners to meet financial goals and create competitive differentiation.”

Over the next twelve months, Airbiquity will manage the first deployments of its VIAaq telematics service.

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