Ubicquia Bags $30 Million

 


Ubicquia, a Fort Lauderdale, Florida-based 'smart city' solutions startup, has secured $30 million in Series C funding from investors including Fuel Venture Capital, a Florida-based firm. With the Series C, Ubicquia has now raised a total of $60 million since its inception in 2014. Ubicquia's primary business centers on developing 'smart city' products such as light control, public WiFi, and video artificial intelligence that plug into existing streetlights. Currently, the company's tools are used in more than 100 cities in the US, as well as in foreign countries including Mexico, Chile, and Colombia. Earlier this year, Ubicquia acquired CityIQ, a popular 'smart city' platform, from energy management company GE Current. CityIQ, which operates a network of 8,000 city-wide cameras for traffic optimization and public safety, expanded Ubicquia's SaaS revenue base and added 25 new patents to the company's portfolio. 

Ubicquia says it'll use the new funding to accelerate its product offerings and expand manufacturing activities. The $30 million Series C marks the latest deal for Fuel Venture Capital, which has before now been a prolific investor in Florida-based technology startups. In 2020 alone, the venture capital firm led a $25 million seed round for PredaSAR, a small satellite data provider, and also a $7.5 million round for Bolt Mobility, an electric scooter startup.  

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