Digital

Nokia’s Next Mapping Frontier is the Connected Car

May 05, 2014 8:30 am

Skift Take

Nokia has to feel good about having a singular purpose once again, and thank goodness it’s aiming its efforts squarely at mapping and navigation.

— Jason Clampet

Free Report: The State of Student Travel

Heikki Saukkomaa/Lehtikuva  / Reuters

Nokia CEO Rajeev Suri speaks during a news conference to announce its first quarter earnings in Espoo April 29, 2014. Heikki Saukkomaa/Lehtikuva / Reuters


Finnish mobile communications equipment maker Nokia on Monday 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 HERE, it said.

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

(Reporting by Sakari Suoninen; Editing by Jussi Rosendahl)

Tags: ,

Next Up

More on Skift

Interview: Starwood CEO on Using Technology to Improve the Guest Experience
Lexington Turns Locals as Brand Ambassadors With Comical Campaign
Exclusive: Pegasus Solutions Spins Off Reservations Business to Regent Equity Partners
Free Webinar: How To Effectively Personalize Marketing Across Travel Sectors