Xconomy Seattle

Airbiquity Inc. Receives $25,000,000 New Funding Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7828b523-5762-4aed-ae5c-e0152e01e9c0&Preview=1
Date
1/22/2008
Company Name
Airbiquity Inc.
Mailing Address
1011 Western Avenue Seattle, WA 98104
Company Description
Airbiquity provides reliable and cost-effective data transport solutions to the Telematics and M2M markets. Our unique patented aqLink® technology leverages existing digital cellular networks to send data over the voice channel.
Website
http://www.airbiquity.com
Transaction Type
Venture Equity
Transaction Amount
$25,000,000
Transaction Round
Undisclosed
Proceeds Purposes
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.
M&A Terms
Venture Investor
Ignition Partners
Venture Investor
Acorn Ventures