AT&T Inc. (NYSE: T) has committed to investing up to $200m in a venture capital fund as part of its ongoing effort to develop solutions to the toughest technology challenges.
AT&T will work with Coral’s Communications Industry Platform (CIP) team to identify and invest in startups focused on connected services and platforms.
The fund will invest in technologies that run on the Open Network Automation Platform (ONAP), an operating system for software-defined networks which was born of a merger between a platform created in AT&T Labs and an existing effort in open source.
It is being used to manage the company’s own cloud network. ONAP is now an open source platform hosted by the Linux Foundation. It is quickly becoming the standard for virtualized networks around the world.
AT&T and Coral will identify additional companies to invest in the fund. The CIP members can pool their resources to create innovations to address vital problems.
This investment represents AT&T’s latest innovation program, including AT&T Labs and the AT&T Foundry innovation centers. The centers were launched in 2011 in part to work closely with the startup and open source communities.