French telematics box supplier Munic.io has reported a 156% growth in turnover for 2021, despite the worldwide shortage of semiconductors.

Aaron Solomon, CEO at Munic.io

The firm, a specialist in artificial intelligence and embedded technologies for the automotive and fleet sectors, posted turnover of €19.2m for last year after successfully continuing to deliver its telematics solutions targeting the European and North American markets.

Revenue in the first half of the year reached €5.2m, up 105% compared to 2020 and 66.8% compared to 2019. In the second half, the turnover of €14.1m was 182% above that of the previous year to practically align with that of 2019 (-0.2%).

The company, which markets smart telematics devices that can collect and decode data from vehicle sensors, said its 2021 partnerships, including with ALD Automotive, AGC Automotive and Select AG, were key to growth.

Aaron Solomon, CEO, commented: “Munic.io has been able to demonstrate its agility in terms of supply as well as its flexibility to adapt to market conditions to ensure the delivery of the majority of orders to its customers, in particular by rapidly developing changes to its products using alternative sources of components to overcome the shortage of semiconductors and by concluding solid and long-term partnerships with the main component manufacturers and distributors.”