Quantcast
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

Win a Food Tour For Two Through Charleston, SC

Free Report: The Megatrends Defining Travel in 2015

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

Travel Brands Big and Small Experiment on Yo to Reach Next-Gen Travelers
OpenTable Redesign Means A Bigger Push Into the Dining Room
HomeAway CFO on Airbnb: We Know They Are Coming After Us
Why Data Breaches in Travel Can’t Be Ignored