After raising its $10 million Series A in December, connected car startup Zubie has attracted two key strategic investors: Nokia and auto parts maker Magna International. Nokia Growth Partners and Magna have led an $8 million round.
Zubie makes a device called the Key that plugs into the onboard diagnostic port of any car made after 1996. The Key communicates with the car’s computer to track driver behavior – recording everything from acceleration and braking to driving routes – and engine health information. A cellular radio then transmits that info to the cloud, where it is uploaded into a smartphone app.
Nokia may no longer be a smartphone maker, but the company is doubling down on the internet of things with a particular focus on the connected car. In May, Nokia created a $100 million connected car fund to invest in new automotive technologies. Zubie is its first investment from that fund.