Intel Capital plans to invest $20 Million in Six Indian Companies
Arvind Sodhani, President of Intel Capital and Executive VP of Intel, said, "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."
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. The company has invested more than $10 billion in over 1,140 companies in 51 countries since 1991. In 2010, they invested $327 million in 119 investments with approximately 44 percent of funds invested outside the U.S. and Canada.
The investment company is led in India by Sudheer Kuppam, Managing Director of Intel Capital India, Japan, Australasia and Southeast Asia, and includes six investment directors: Pradeep Tagare, Varsha Tagare, Anupam Srivastava and Deepak Gupta in Mumbai and Amit Bhel and Mahesh Vaidya in Delhi.
The companies in which Intel Capital plans to invest in are Saankhya Labs, a fables semiconductor company; Testing Czars, a global independent test engineering and solutions provider for mobile applications; Financial Inclusion Network and Operations, 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.
Three investments - Saankhya Labs, Testing Czars and FINO - have been completed. The investment company has signed investment agreements with What's on India, enStage and DURON Energy. The details regarding these investments are not yet disclosed.
Navin Shenoy, VP and General Manager, Asia-Pacific, Intel, said, "The computing revolution is just starting in India. As PC ownership rises among Indian households, there is growing demand for online services and content. Intel is working closely with our Indian customers to help them meet this demand."
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