Intel Capital Makes Investment in Future of Auto Technology

Mar 05, 2012 (Close-Up Media via COMTEX) -- Intel Capital announced a $100 million investment fund to help accelerate "innovation" and the adoption of new technology and services in the automotive industry.

In a release on Feb. 29, Intel Capital said it is the first global technology investment organization headquartered in Silicon Valley to announce a dedicated focus on automotive technology solutions.

The Intel Capital Connected Car Fund will be invested globally over the next four to five years in hardware, software and services companies developing technologies to promote new, in-vehicle applications and enable the 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 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.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." Intel Capital, Intel's global investment and M&A organization, makes equity investments in technology start-ups and companies worldwide.

More information: www.intelcapital.com ((Comments on this story may be sent to newsdesk@closeupmedia.com))

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