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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

October - 2011 - issue > Venture Beat

Intel Capital invests in six Indian companies

ST Team
Thursday, October 6, 2011
ST Team
Intel Capital, Intel’s global investment organization, plans to invest approximately $20 million, in six Indian companies. The investments are part of Intel Capital’s ongoing efforts to support Indian technology innovation and entrepreneurship. Saankhya Labs, a fabless semiconductor company; Testing Czars, a global independent test engineering and solutions provider for mobile applications; Financial Inclusion Network and Operations (FINO), a business and banking technology platform provider with an extensive services delivery channel; What’s on India, India's premier electronic programming guide for television; enStage, an electronic payment solutions and processing provider; and DURON Energy, a pioneer in affordable solar power products designed for off-grid use in emerging markets, are the companies that will get funded as part of this initiative.

The investments in Saankhya Labs, Testing Czars, and FINO have been completed and Intel Capitals has signed investment agreements with the rest of the companies. “Indian entrepreneurs are increasingly at the forefront of innovation, using technology to change the way we live and do work. Intel Capital’s investments in these six companies will help them grow their businesses and push into new markets,” says Arvind Sodhani, President of Intel Capital and Executive Vice President, Intel.

Funding for the investments announced by Intel Capital comes from the $250 million Intel Capital India Technology Fund established in December 2005. This fund invests in Indian technology companies to stimulate local innovation and the continued growth of India's information technology industry.

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