$100 million connected car fund created

Intel Capital has announced a US$100 million investment fund to help accelerate innovation and the adoption of new technology and services in the automotive industry, claiming it is the first global technology investment organisation headquartered in Silicon Valley to announce a dedicated focus on automotive technology innovation. The Intel Capital Connected Car Fund will be invested globally over the next four or five years in hardware, software and services companies developing technologies to promote
April 19, 2012 Read time: 3 mins
5065 Intel Capital has announced a US$100 million investment fund to help accelerate innovation and the adoption of new technology and services in the automotive industry, claiming it is the first global technology investment organisation headquartered in Silicon Valley to announce a dedicated focus on automotive technology innovation.

The Intel Capital Connected Car Fund will be invested globally over the next four or five 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.

"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 announcement is part of Intel's ongoing work with automakers and in-vehicle infotainment suppliers to help integrate advanced technologies into cars. "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. 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."

To help realise that vision, 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 optimised for the connected car.

In addition to the Intel Capital Connected Car Fund, Intel Corporation president and CEO Paul Otellini also announced at an event in Karlsruhe, Germany, the opening of a new global automotive innovation and product development centre, an academic outreach programme focused on IVI and telematics, and expansion of Intel Labs Experience and Interaction Research in automotive.

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