Intel Capital Creates a $100M "Connected Car" Fund
March 1, 2012 10:44 AM
Intel also sets up new automotive research center
The automotive world is rapidly integrating advanced technology. While a lot of new technology is being devoted to produce more fuel-efficient internal combustion engines, hybrid systems, and
fully electric vehicles
, technology is also being used for internet connectivity and infotainment while driving.
Intel is now set to make a significant investment into the future of automotive technology with Intel Capital creating a $100 million Intel Capital Connected Car Fund.
The goal of the fund is to accelerate the innovation of technology in the automotive industry. The fund will be targeted at technologies that deliver improvements in
vehicle infotainment solutions
, mobile connectivity, driver assistance systems, and new applications. Many carmakers are betting big on technology to be able to add interactivity to vehicles without distracting the driver.
"Technology has become an integral component of everyday life, with consumers demanding uninterrupted access to the Internet and the constant flow of information, news, entertainment, and social media," said Arvind Sodhani, president of Intel Capital and Intel executive vice president. "Automobiles must be able to provide these same consistent and engaging computing experiences, but in a safe manner. The Intel Capital Connected Car Fund will drive the development of technologies to enhance the in-vehicle experience of the future."
The $100 million the fund will be invested globally over the next 4 to 5 years with funds going to hardware, software, and service companies that are developing technologies for vehicles. Along with the new capital fund, Intel is also setting up a new Automotive Innovation and Product Development Center, which is an expansion of Intel Labs Interaction and Experience Research.
"In today's mobile world, personal computing touches every part of consumers' daily lives while at home, at the office and on the road," said Intel President and CEO Paul Otellini. "By broadening our research efforts, academic and capital investments and opening the Automotive Innovation and Product Development Center, Intel is deepening its understanding of how people interact with their cars and how Intel innovations can enhance the automotive experience."
The new Automotive Innovation and Product Development Center, which is located in Karlsruhe, Germany, will be Intel's global center for developing in vehicle infotainment, telematics solutions, and for connected vehicles. Intel also says the facility has state-of-the-art instrumentation, and the antennas needed to provide TV, digital video, and GPS signals for testing.
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