Intel Capital Launches $ 100 million Connected Car FundVallabh Rao
Intel Capital has launched a $100 million Intel Capital Connected Car Fund to invest in technology innovation in the automotive industry. By 2014, automobiles will be among the top three fastest-growing market segments for connected devices and Internet content.
The Intel Capital Connected Car Fund will be invested globally over the next 4 to 5 years in hardware, software and services companies developing technologies to promote new, compelling in-vehicle applications and enable the seamless connection between vehicles and any connected device, including mobile devices and sensors.
"The car is the ultimate mobile device," said Staci Palmer, general manager of Intel's Automotive Solutions Division. "By 2014, automobiles will be among the top three fastest-growing areas for connected devices and Internet content.¹ Intel's experience in developing personal computing, software, security and cloud computing technologies will bring a new level of innovation to the car to enhance the driving experience for both drivers and passengers."
Areas of investment for the Intel Capital Connected Car Fund will include technologies that advance the next generation of in-vehicle infotainment, advanced driver assistance systems and seamless mobile connectivity. This includes new in-vehicle applications and development tools, next-generation ADAS technologies and multimodal capabilities such as speech recognition, gesture recognition and eye tracking optimized for the connected car.