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Intel Capital has emerged as the first VC in the Valley to create a fund dedicated to accelerating technology in the automotive industry.

The US$100 million investment fund, Intel Capital Connected Car Fund, aims to back innovation and the adoption of new technology and services in the automotive industry.

The fund will be invested globally over the next four to five years in hardware, software and services companies developing technologies to promote new, in-vehicle applications and enable the seamless connection between vehicles and any connected device, including mobile devices and sensors.

Intel's Automotive Solutions Division GM Staci Palmer described the car as the “ultimate mobile device.”

"By 2014, automobiles will be among the top three fastest-growing areas for connected devices and Internet content.¹ 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."

The concept feeds into Intel’s core growth areas of cloud engagement, infotainment and data management.

Key areas of investment for the Intel Capital Connected Car Fund will include technologies that advance the next generation of in-vehicle infotainment, advanced driver assistance systems and seamless mobile connectivity. This includes new in-vehicle applications and development tools, next-generation ADAS technologies and multimodal capabilities such as speech recognition, gesture recognition and eye tracking optimized for the connected car. ®

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