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Intel Capital today announced a $100 million investment fund to help accelerate innovation and the adoption of new technology and services in the automotive industry. Intel Capital is the first global technology investment organization 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 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.
“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. Ultimately, the connected car will have the intelligence and context awareness to offer the right information, at the right time and in the right way to keep drivers and passengers informed, entertained and productive while maintaining optimal safety. Once the car becomes connected, it can also communicate with the cloud, the transportation infrastructure and even other vehicles to provide additional services such as advanced driver assistance and real-time traffic information to optimize the flow of traffic.
“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.”