Some time ago, Nokia Growth Partners (NGP), Nokia’s venture capital investment arm had announced $100 million connected car opportunities fund. And, now Nokia has announced the first deal under connected car fund.
Zubie, a connected car technology provider has been picked for investment by NGP. Nokia’s mapping arm HERE helped NGP in finalizing this deal. Zubie provides a hardware dongle known as “Zubie Key”. The dongle plugs into a car’s diagnostic port situated underneath the dashboard and collects and analyses data about system functions, like fuel and oil levels in cloud, before suggesting a tune-up or other action. Zubie also provides feedback on driving habits and makes suggestions on safer driving and lowering costs.
Zubie plans to improve its product and grow headcount with help of this fund. It also has shown interest in bringing HERE Maps and related technologies on-board and to us it looks like a promising deal for for NGP, HERE and Zubie!!