Charleston, South Carolina-based Zubie secured $10 million in its Series A financing. The round was led by Castrol innoVentures, Comporium Inc and OpenAir Equity Partners. Castrol innoVentures is the innovation unit of global lubricant firm Catrol while Comporium is a privately-owned, diversified communications firm. OpenAir Equity Partners is a venture capital company that concentrates on the wireless communications and mobile internet sectors.
As part of the deal, Comporium Executive Vice President- Marketing & Business Solutions John M. Barnes Jr and Castrol innoVentures Venture Director Jonathan Tudor will be joining the Board of Directors at Zubie.
Zubie is a connected car service provider that maximizes connected car capabilities for both consumers and businesses. The Zubie Service which was launched nationwide in September makes car owning and driving easier and less costly. Through the Zubie Key that can be plugged straight to the car's On-Board Diagnostics or OBD port, the cellular device can capture important vehicle data and other driving data. Using the device, car diagnostics, driving behavior reports, travel coordination tools, family safety location-based alerts and other information are generated to make driving easier and safer.
According to a Gigaom report, Zubie is a challenger for Automatic Labs whose Link device provides a similar service. However, the key difference between the two is that Zubie depends on an embedded cellular for connection while Automatic relies on a direct link to a user's smartphone through a Bluetooth connection. As a result, Zubi is more advantageous because it gives the ability to track and transfer car data even with the absence of the driver and his or her smartphone. However, it is also more expensive, with the device priced at $100 upfront with the fee including the first year of service. To renew the service, Zubie charges $100 a year, the report said.
The Zubie Service can be bought through Amazon.com, BestBuy.com and Zubie.co Storefront as well as through Telesales and through channels for enterprise customers.
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