Intel Capital has raised $100 Mn – Connected Car Fund to invest in automotive technology.
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.
The 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.
Intel already has partnerships with leading car makers, including Hyundai Motor Co., Kia Motors, Toyota Motor Corp., BMW AG and a few Chinese manufacturers for using its technology.
Last October, Intel Capital invested $20Mn in six tech companies in India. It invested in Saankhya Labs, Testing Czars, Financial Inclusion Networks and Operations, What’s On India, enStage and Duron Energy. These investments are being made out of the $250Mn Intel Capital India Technology Fund established in December 2005.
Other portfolio companies of Intel include Indiamart, Tejas Networks, MCX, Noida-based Wortal Technologies that runs local events portal BuzzInTown, , Infrasoft Technologies and KLG Systel.
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