Nokia launches $100 million Car Connectivity fund

Last updated:

Nokia has launched a new $100 million Car Connectivity fund (£59.26 million roughly) for companies who’s innovations will be important for a connected world. The fund is just one example of how Nokia will play to its assets, with its location division providing a large portion of its revenues going forward.

The fund will be run by Nokia Growth Partners (NGP) and will work closely with Nokia’s location arm HERE to invest in companies and promote the growth of the ecosystem around HERE. The Car Connectivity fund could be an important asset in Nokia’s future plans and it’s possible we’ll see additional funds launched as the company looks to a future without mobile devices.

In a statement, Nokia’s new CEO, Rajeev Suri said:

“NGP has been consistently performing well bringing in both new innovation and financial return to Nokia. Our new $100 million venture fund launched today further underlines our belief that the connected car is a significant growth opportunity where NGP is poised to make great investments.”

Michael Halbherr, Chief Executive Officer at HERE, said:

“NGP’s Connected Car fund underscores that connectivity is rapidly reshaping what is possible in the car environment. We believe that connected cars equipped with precise location awareness and sensor data can become powerful devices capable of helping drivers make sense of the world around them. With more than 25 years of experience in creating automotive grade maps for the automobile industry, we look forward to working with promising companies in NGP’s new fund to create a whole new class of services that keep drivers safe and connected.”

[signoff predefined=”Enjoy this?” icon=”icon-users”][/signoff]

My Cart Close (×)

Your cart is empty
Browse Shop

Rapid Mobile

Rapid Mobile uses cookies, tokens, and other third party scripts to recognise visitors of our sites and services, remember your settings and privacy choices, and - depending on your settings and privacy choices - enable us and some key partners to collect information about you so that we can improve our services and deliver relevant ads.

 

By continuing to use our site or clicking I Accept, you agree that Rapid Mobile and our key partners may collect data and use cookies for personalised ads and other purposes, as described more fully in our privacy policy.

 

You can change your settings at any time by clicking Manage Settings or by visiting our Privacy Centre for more detailed information.

 

Privacy Settings saved!
Cookie Services

We need your consent so that we and our trusted partners can store and access cookies, unique identifiers, personal data and information about your browsing behaviour on your device. This enables us to serve relevant content and advertising to you, and to improve the service that we provide to our readers. This only applies to rapidmobile.biz.Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.

These cookies allow us to count visits and traffic sources, so we can measure and improve the performance of our site.

We track anonymized user information to improve our website.
  • _ga
  • _gid
  • _gat

Save my preferences