Auto maker BMW recently established a New York-based venture capital firm dubbed BMW i Ventures that it seeded with $100 million to seek out partnerships that might facilitate BMW-i product adoption in urban markets. BMW-i is a BMW sub-brand solely focused on developing and producing sustainable mobility vehicles. Its first investment was made public this week: BMW pumped $5 million into MyCityWay, a user-driven, location-aware city guide. FirstMark Capital and IA Ventures, who participated in an earlier $1 million seed round, joined BMW.
Source: http://feedproxy.google.com/~r/Techcrunch/~3/KlN9v0thbHo/
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