NASHUA, N.H., April 18, 2017 /PRNewswire/ -- Beacon Angels, a premier Boston area investor group has once again funded XCube R&D, barely six months after it picked up XCube to invest in October of 2016.
XCube R&D, a leader in developing the infrastructure technologies for autonomous driving and ADAS applications, has since acquired marquee customers in Japan, China and Korea, has had legendary investor Michael Mark join its board of directors, and has named a new Chairman of the Board and CEO, Satish Jha. XCube is currently in a fresh round of funding to package its software and develop new customers.
William Swiggart, the founder of Beacon Angels observed that "XCube first impressed Beacon in its seed phase as having developed a unique and essential technology for the self-driving car. We have just doubled our investment because management has made several key operational moves, and now appears to be on the verge of delivering on its promise of partnering with very significant potential customers both within and without the automotive industry. The Beacon membership, myself included, is very hopeful and optimistic for XCube's prospects."
XCube R&D Chairman and CEO Satish Jha said "Beacon Angels was the first among the Boston area early stage investors to spot XCube and quick to invest in it. It has helped XCube find fresh momentum and with Beacon's lead we hope other investors will soon join in to make the world leverage XCube's technology to scale without impacting the performance in massively parallel computing."
Beacon Angels www.beaconangels.com is a Boston-based angel group that makes investments in the $50,000 to $300,000 range in small, fast-growing companies (New England only).
XCube Research and Development is a leader in the autonomous driving space and creates software infrastructure for automotive manufacturers and ADAS suppliers to accelerate the development of autonomous vehicle programs.
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SOURCE Beacon Angels