On Air Now

Listen

Listen Live Now » 92.5 FM Sioux Falls, SD

Weather

Current Conditions(Sioux Falls,SD 57104)

More Weather »
61° Feels Like: 61°
Wind: SSE 18 mph Past 24 hrs - Precip: 0.15”
Current Radar for Zip

Today

Thunderstorms 69°

Tonight

Fog Late 59°

Tomorrow

Mostly Cloudy 75°

Alerts

Nokia invests $100 million in car connectivity

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

HELSINKI (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)

Comments