Magna International backs Zubie to drive new automotive ecosystem
Canadian automotive supplier Magna International Inc (TSX: MG) has joined the US$8 million financing of Zubie, a Charleston, South Carolina-based connected car service focused on making driving easier, safer and less expensive. The round, which was also backed by U.S. venture capital firm Nokia Growth Partners and existing investors Castrol innoVentures, Comporium and OpenAir Equity Partners, will help develop Zubie's car and driver management system, the company said. Magna said it is investing in technology startups like Zubie because of their potential to deliver novel solutions to the automotive market.
12 August 2014•4 mins read
