Nokia recently completed the sale of its mobile and service division to Microsoft, and last week we heard the areas that the company would be focusing on in the future.
Now Nokia has launched a new $100 million automotive technology fund, and it will be used to invest in companies in an attempt to grow Nokia’s HERE maps service and its ecosystem.
Nokia’s obviously thinks that connected vehicles are the future, and the company will invest in companies and individuals who are developing technology for connected vehicles.
According to Nokia, they are already a ‘major player’ in the automotive industry, by providing location information for connected vehicles with their HERE mapping software.
“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. Vehicles are becoming a new platform for technology adoption very similar to phones or tablets,” said Paul Asel, Partner at Nokia Growth Partners. “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.”
The $100 million dollar fund will be managed by Nokia Growth Partners, you can find out more information about the fund over at Nokia below.