Airbiquity announced a $15 million minority investment in the company from Toyota Motor Corp., Denso Corp., and Toyota Tsusho Corp. The company says that this investment will support Airbiquity’s expansion of the development of connected vehicle software technology and cloud-based services.
Additionally, the four parties say they will collaborate to accelerate the development and commercialization of an automotive grade over-the-air (OTA) system enabling remote vehicle software updates and management; increased production and operational efficiencies throughout the vehicle lifecycle; and new mobility services powered by data and analytics.
“We are delighted to receive investment from three of the most successful corporations in the automotive industry,” said Kamyar Moinzadeh, President and CEO of Airbiquity. “This is an exciting time for our company, and we look forward to working with our new strategic partners to optimize and leverage OTAmatic for the next generation of connected vehicle.”