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Nokia Invests $100 Million in Connected Car Tech

The company wants to invest in companies "whose innovations will be important for a world of connected and intelligent vehicles."

May 5 2014, 1:21pm CDT | by

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Nokia Invests $100 Million in Connected Car Tech
 
 

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Nokia Invests $100 Million in Connected Car Tech

Car technologies is becoming increasingly important as more and more people become tech savvy and many current manufacturers have rolled on their focus towards this new emerging platform. Nokia is one of these manufacturers who want to come up with the next big connected car technologies. An announcement was made by Nokia on Monday that it is going to invest a large sum of $100 million in companies "whose innovations will be important for a world of connected and intelligent vehicles." This huge fund is going to be taken care of by Nokia’s venture capital arm Nokia Growth Partners (NGP).

Rajeev Suri, the Nokia President and CEO stated that "Our new $100 million venture fund launched today further underlines our belief that the connected car is a significant growth opportunity.” It can be said that this new idea has followed the HERE embedded in-dash navigation system and companion application which was introduced by Nokia last year in summer. This technology was perfect as a driver’s guide showing him the appropriate types of apps and the bird’s eye view of the highway and even a zoomed in look while driving in the city for increased safety. You might find this surprising but Nokia has remained a partner with Mercedes-Benz and these two companies paired to develop smart maps intended to spur the development of self-driving cars.

"For the last few years there has been a surge in innovation that has brought technological advances leading to safer, cleaner, increasingly connected, intelligent and more affordable vehicles," Paul Asel, a partner at Nokia Growth Partners, said in a statement. "Vehicles are becoming a new platform for technology adoption very similar to phones or tablets. We are excited to deepen our collaboration with HERE through the Connected Car fund to invest in companies that are driving the future of the auto ecosystem, local services and personal mobility."

source: pcmag

 

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Aduba Janney among creative arts Emmy winners 

Source: Albequerque Express

Uzo Aduba arrives at the 2014 Creative Arts Emmys at Nokia Theatre L.A. LIVE on Saturday, Aug. 16, 2014, in Los Angeles. (Photo by Richa ...
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Update: 9

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Update: 7

Katherine Schwarzenegger Supports Her Parents at Creative Arts Emmys 2014!

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Katherine Schwarzenegger poses for a photo with her mom Maria Shriver while attending the 2014 Creative Arts Emmy Awards at the Nokia Theatre L.A. Live on Saturday (August 16) in Los Angeles. The 24-year-old author was there to support her mom Maria and her dad Arnold Schwarzenegger, both of whom were nominated for separate awards, but unfortunately lost. Maria was nominated for Outstanding Documenta ...
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Update: 6

2014 Creative Arts Emmys: Complete List of Winners

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Update: 5

OITNB's Uzo Aduba WINS Emmy for Guest Actress in a Comedy Series!

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Uzo Aduba looks stunning while walking the red carpet at the 2014 Creative Arts Emmy Awards on Saturday (August 16) at the Nokia Theatre L.A. Live in Los Angeles. The actress won the award for Outstanding Guest Actress in a Comedy Series for her portrayal of Suzanne “Crazy Eyes” Warren on Orange Is the New Black. Uzo beat out her co-stars Natasha Lyonne and Laverne Cox, as well as Shameless‘ Joan Cusack and both Tina Fey and Melissa McCarthy for Sat ...
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Update: 4

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Update: 3

Jenny McCarthy Supports Her Man Donnie 'Wahlburger' at the Creative Arts Emmys 2014

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Update: 2

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Kate Mara's Flask Gets Taken Away at Creative Arts Emmys 2014

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<a href="/latest_stories/all/all/32" rel="author">Ahmed Humayun</a>
Ahmed Humayun is a technology journalist bringing you the hottest tech stories of the day.

 

 

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