Partner News: Airbiquity announces USD$ 25 million funding

Date: 13 February 2008

ERTICO Partner announces new funding to support global expansion initiatives.

In January, ERTICO – ITS Europe Partner Airbiquity announced it 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 off-board navigation.  For the latest round of funding, Airbiquity’s current investors, Acorn Ventures, Kirnaf LTD and Shell Internet Ventures have been joined by US-based Ignition Partners.  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.

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 ERTICO Partners ADAC, Continental Automotive Systems and Adam Opel, as well as T-Mobile, Automobile Club d’Italia and the ÖAMTC.
• Partnership with ERTICO Partner 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.

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.

For further information, please visit the Airbiquity website at www.airbiquity.com