Globetouch Looks Toward a $40 Million Series C

Connectivity specialist Globetouch raises funding in conjunction with listing on Gartner’s Magic Quadrant

Globetouch, a global connectivity services provider and Internet of Things (IoT) platform maker for the connected vehicle and the IoT market, reportedly is raising $40 million in Series C funding. The company issued an announcement recently that it has secured a large part of the funding round already, with new investors Hermes Growth Partners, Spark Telecom Ventures and Wholesale and Impact Venture Capital. The existing shareholders joining this round include Verizon Ventures and Zeev Ventures. These investors join the leading mobile operators like CK Hutchison Holdings Ltd, NTT DoCoMo and Digicel.

This investment round will allow Globetouch to enhance its services and market share of the growing connected car market, according to the release. The company said it plans to extend the ecosystem of manufacturers, OEMs, consumer service providers and fleet owners for partnering and exchanging the services and products used during the lifecycle of a connected vehicle. The funding will also aid in Globetouch’s growing push into other verticals, including logistics, industrial IoT, and healthcare.

“We consider our landing and positioning in the Gartner Magic Quadrant for M2M services after just four years of operations as a validation of the importance of the connectivity infrastructure that we have built,” said Riccardo Di Blasio, CEO, Globetouch. “With the added backing from an impressive roster of investors, we are realizing our mission to enable the connected car with applications that enrich the transportation experience beyond imaginable limits.”

Having recently announced a partnership with General Motors’ OnStar for the expansion of the connected car service outside of the U.S., Globetouch also previously acquired Teramatrix Technologies, which develops an IoT sensor data analytics platform.