Veniam Gets $22 Million Investment

Veniam, one of the startups created in the scope of the Carnegie Mellon (CMU) Portugal Program, raised a $22 million investment round led by Verizon Ventures, with the participation of Cisco Investments, Orange Digital Ventures and Yamaha Motor Ventures. Veniam is the leading global innovator of true citywide WiFi networks of connected vehicles that expand wireless coverage and enable the Internet of Things.  

This investment will be used to broaden the technological platform and its services that are associated with the creation, management and exploration of wireless WiFi networks for urban vehicle fleets, harbors, airports and factories.  

Veniam was created by João Barros, faculty at the Faculdade de Engenharia of the Universidade do Porto, and Susana Sargento, faculty at the Universidade de Aveiro, and it is a spin-off company that uses technologies developed at Universidade de Aveiro and Instituto de Telecomunicações (IT) under the CMU Portugal Program.    

 

Read the Portuguese articles at: Expresso, Observador, Oje, Notíciasde Aveiro, (February 11, 2016), Shifter (February 13, 2016), Porto.pt (February 15, 2016) and StartUp Magazine (February 25, 2016).