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Nokia Growth Partners Raises $350 million Fund Focused on IoT

Clock 22 February 2016
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Nokia Growth Partners Raises $350 million Fund Focused on IoT Image Credit: Nokia Growth Partners

During the Mobile World Congress, Nokia president and CEO Rajeev Suri revealed that Nokia Growth Partners (NGP) has raised a new USD$ 350 million fund sponsored by Nokia for investments in IoT companies. NGP will use the fund to invest in promising companies primarily around Connected Enterprise, Consumer Solutions, Connected Car and Digital Health, as well as enabling technologies with a focus on capabilities in big data and analytics. 

The fund will support Nokia in defining future business opportunities and the technical underpinnings for the rapidly growing IoT market. Working closely with operators, enterprises and a strong ecosystem of partners through its IoT community, Nokia combines its mobile and fixed network infrastructure assets with secure IoT connectivity, distributed cloud, as well as IoT platforms with applications and analytics and individualized services. 

Nokia President and CEO Rajeev Suri
The $350 million Internet of Things investment fund, tasked with finding and funding the best entrepreneurs across the world, reflects our strong intent to be a leader in the technologies that connect people and things, while establishing successful partnerships for both Nokia and the investee companies.

NGP Managing Partner Bo Ilsoe
Connecting everything through IoT solutions is the next big technological wave and it will affect all aspects of our lives. We are excited to continue working closely with Nokia to build the ecosystem while increasing partnering and company success.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

Ray can be reached at ray.sharma(at)thefastmode.com.

 

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