Intel Capital invest $40 million in 10 tech companies
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Intel Capital invest $40 million in 10 tech companies

Last Updated: Wednesday, October 03, 2012, 16:19
 
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Intel Capital invest $40 million in 10 tech companies
New Delhi: Intel Capital, Intel Corporation's global investment and M&A arm, on Wednesday said it has made investments worth USD 40 million (about Rs 209 crore) in 10 innovative technology companies in the world, including an Indian firm Hungama.Com.

The 10 companies that Intel Capital has made investments into include bollywood and South-Asian content distributor Hungama.Com; secure content sharing platform Box; integrated circuit design house FocalTech; social radio platform Jelli; social game developer LIFO Interactive.

Others in the list include mobile proximity platform NewAer; e-payment platform PagPop; cloud services provider Tier 3; 3-D game developer Transmension; and mobile advertising provider UUCun.

The financial details of each investments were not disclosed.

The investments were announced in the 13th annual Intel Capital Global Summit, that brought together over 1,000 Intel Capital-funded entrepreneurs and Fortune 2,000 industry executives.

The 10 new investments in innovative companies announced on Wednesday stand to benefit greatly from the longstanding company-building resources of Intel Capital, Intel Capital President Arvind Sodhani said.

Hungama.Com, is an Indian digital entertainment company that has over two-and-a-half million pieces of content across genres and languages, in the form of music tracks, movies, music videos and mobile content and has over 20 million users.

"We have been working with Intel Corp over the last few years. As a company we are delighted to have Intel Capital partner with us on the Hungama.Com opportunity," Hungama.Com Chairman Neeraj Roy said.

Intel Capital has been investing in India since 1998. Since then, Intel Capital has invested over USD 300 million in over 80 companies across 10 cities in India.

PTI



First Published: Wednesday, October 03, 2012, 16:19


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