Zubie Raises $8 Million

A graduate of Best Buy’s ventures division has raised $8 million in venture capital.

According to the Twin Cities Business Journal, Zubie Inc., which sells a car-monitoring device and accompanying app, has raised $8 million from a round led by Venture capital firm Nokia Growth Partners and automotive supplier Magna International. The company, founded in 2012 inside Best Buy, raised $10 million last year:

According to the report:

Zubie Inc. makes a small device that plugs into a car’s diagnostics system. The product collects data and wirelessly transmits it to a smartphone app, allowing consumers to track a car’s location, maintenance problems, driving patterns and other information.