Nokia invests in promising companies that focus on intelligence for connected vehicles

nokia here maps for life

Nokia’s mobile division may be sold to Microsoft and the deal was recently finished but Nokia is still a single entity. From mobile phones to cars, Nokia is set to make a living by introducing a project related to cars. The project is launched through the Nokia Growth Partners (NGP) fund with a $100 million budget. This seems to be a big amount but looks like it’s a worthy investment.

Nokia aims to invest and work on technological innovations around mapping and travel with the app called HERE. According to a report, the purpose of the effort is to “grow the ecosystem around Here’s mapping and location products” that will mainly be used for cars. HERE is no longer exclusive to Windows Phone so iOS and Android might soon get the app.

The $100 million Connected Car Fund will invest in companies that focus on auto tech. In partnership with Nokia company HERE, the latter’s mapping and location services and products are expected to improve further and grow the ecosystem. Hopefully, this effort will advance the technology of intelligent and connected vehicles.

In case you don’t know, Nokia is a big player in the automotive industry already. It doesn’t just make phones, the Finnish giant also provides location intelligence for connected vehicles. Is this effort Nokia’s plan of shifting to smartcar technology? We’ll see.

[via PhoneArena]

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