Telecom

Nokia Invests $100 million in Car Connectivity

Comms Week5 May 20140 Comments

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Nokia, Finnish mobile communications equipment maker said it had started a $100 million fund to invest in companies working on connecting cars.

The fund will be run by the company's venture capital arm Nokia Growth Partners and will cooperate with Nokia's location unit, it said.

"Our new $100 million venture fund launched today further underlines our belief that the connected car is a significant growth opportunity," Rajeev Suri, Nokia chief executive said in a statement.

Tags:#Nokia #Rajeev Suri

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