Ubicquia’s smart city tech is going global with the help of Silicon Valley Bank
Smart city electronics startup Ubicquia is going global after securing $25 million in debt and working capital from Silicon Valley Bank.
The company plans to expand its smart city and grid platforms to Europe and Asia after the capital injection, said CEO Ian Aaron. The funding will also ensure Ubicquia can meet its supply chain demands – which has been constrained due to pandemic-tied interruptions – as it expands its product portfolio and customer base.
“[Silicon Valley Bank] has been our working capital partner as we started our journey in the U.S.,” Aaron said. “We are now strengthening our partnership as we expand further into Latin America and explore new distribution across Europe and Asia.”
The company plans to expand its smart city and grid platforms to Europe and Asia after the capital injection, said CEO Ian Aaron. The funding will also ensure Ubicquia can meet its supply chain demands – which has been constrained due to pandemic-tied interruptions – as it expands its product portfolio and customer base.
“[Silicon Valley Bank] has been our working capital partner as we started our journey in the U.S.,” Aaron said. “We are now strengthening our partnership as we expand further into Latin America and explore new distribution across Europe and Asia.”
www.bizjournals.com
