Intel invests $77 Million in startups, three operating in India
By siliconindia   |   Thursday, 18 November 2010, 07:08 IST   |    1 Comments
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Bangalore: Intel Capital, Intel's global investment arm, has announced that it has invested in 23 companies around the world, including China, Germany, India and the U.S., of which $77 million are in 18 new investments. Out of those 23 companies, three have operations in India. They are - Shufflr.tv, BuzzInTown and Verismo, reports Nikhil Pahwa of Medianama . In a bid to boost development in its core PC and server markets, Intel uses its significant financial resources. The company also looks at adjacent areas of interest such as smart television, tablet computers and smartphones. Bangalore-based Althea Systems, that runs the social video browser Shufflr.tv, has raised $3 million. An Adobe Air application, Shufflr.tv will use the funding for rolling out video distribution on smartphones, tablets and TVs. The funding will also be used for trying out business models like affiliate, device based model, a featured search content and premium content model. In India, Shufflr.tv has content agreements with NDTV, Reuters, CNBC-TV18 and BigFlix. It has content agreements with BBC and MSNBC in the UK. Intel Capital also invested in Wortal that owns and operates BuzzInTown, an India based events listing site. However, the amount of the investment is not yet disclosed. The investment arm has also pumped in money in Verismo Networks that enables OEMs and MSO's to offer Internet content browsing to TV. In Bangalore, Verismo powers the VuNow Internet content service for IPTV service provider ACT (Atria Convergence Technologies). Intel Capital has also invested in the Netherlands based Layar. It will use the $14 million in funding from Intel and existing investors Sunstone Capital and Prime Ventures to develop its augmented reality platform, which is available on Android, iPhone and Bada devices.

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