Intel Capital has raised a $100m investment fund to assist enhance the innovation and the adoption of new technology and services in the automotive industry.
The funding is part of company's ongoing work with automakers and in-vehicle infotainment suppliers to help incorporate advanced technologies into cars.
The Intel Capital Connected Car Fund will be invested worldwide over the next 4 to 5 years in hardware, software and services firms developing technologies to support new, compelling in-vehicle applications.
Intel executive vice president and Intel Capital president Arvind Sodhani said technology has become an integral component of everyday life, with consumers demanding uninterrupted access to the Internet and the constant flow of information, news, entertainment, and social media.
"Automobiles must be able to provide these same consistent and engaging computing experiences, but in a safe manner," Sodhani said.
"The Intel Capital Connected Car Fund will drive the development of technologies to enhance the in-vehicle experience of the future."
Following the process, the connected car will attain the intelligence and context awareness to provide the right information, at the right time and in the right way to keep drivers and passengers informed, entertained and productive while maintaining optimal safety.
Intel Automotive Solutions Division general manager Staci Palmer said by 2014, automobiles will be among the top three fastest-growing areas for connected devices and Internet content.
"Intel's 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," Palmer said.
