California: California based Intel Capital, the global investment and M&A arm of Intel, has raised a $100 million investment fund. The fund would be used to help accelerate the innovation and adoption of new technology and services in the automotive industry. The Intel Capital Connected Car Fund would be used over the next four to five years for investing globally in the hardware, software, and services companies which develop technologies to promote in-vehicle applications. The fund is a part of Intel’s ongoing work with the automakers and in-vehicle infotainment suppliers to help integrate advanced technologies into cars.
According to Arvind Sodhani, President, Intel Capital, “Technology has become an integral component of everyday life. Consumers are demanding uninterrupted access to the Internet and constant flow of information, news, entertainment, and social media. Automobiles must be able to provide the same consistent and engaging computing experiences. The Intel Capital Connected Car Fund will drive the development of technologies to enhance the in-vehicle experience of the future.”
Intel capital has invested more than $9.7 billion across over 1,100 companies in more than 48 countries. Its preferred sectors include hardware, software and services targeting enterprise, home, mobility, health, consumer internet, semiconductor manufacturing, and cleantech.
“By 2012, automobiles will be among the top three fastest growing areas for connected devices and Internet content. Our 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,” says Staci Palmer, General Manager, Automotive Solutions Division, Intel.
Previously the company has raised $250 million as part of the Intel Capital India Technology Fund, $300 million as part of its Ultrabook Fund, and $100 million as part of the AppUpSM Fund. Few of its portfolio investments include July Systems, Solera Networks, mFoundry, Happiest Minds, yUmE, anOBIT Technologies, picoChip Designs, Dexterra, and LucidLogix Technologies among others.
