Ubicquia, a Ft. Lauderdale, Fla.-based provider of smart city, small cell and smart grid solutions, closed a $30m Series C funding.
Backers included Fuel Venture Capital and other existing investors.
The company intends to use the funds to accelerate its small cell and smart grid product offerings, and increase its working capital to address expanded manufacturing and order volumes.
Led by CEO Ian Aaron, Ubicquia provides smart city platforms that plug into existing streetlights to provide critical services, including advanced light control and video AI to optimize traffic management and enhance public safety. Its communication platforms deliver public WiFi, private LTE and small cell solutions that plug into a streetlight photocell socket and install in minutes.
Ubicquia is now deployed in more than 100 cities and has expanded its global footprint with deployments in Mexico, Colombia and Chile. Earlier this year, the company acquired smart city platform CityIQ from GE Current with more than 8,000 Edge AI cameras deployed across the U.S. and Canada to enhance traffic optimization and public safety. The acquisition broadens Ubicquia’s offering, expands its SaaS revenue base, adds 25 new patents to its IP portfolio and brings a team with AI experience in the municipal and public safety sectors.
FinSMEs
09/09/2020