Intel Corporation (NASDAQ:INTC) revealed Wednesday that it made massive a investment of $65 million in 16 technology firms across nine countries, out of which two are Indian firms. Intel Corporation (NASDAQ:INTC) made these revelations at the 14th Annual Intel Capital Global Summit held in San Diego, according to a report from TheTimesOfIndia.
Intel Capital identifying new growth opportunities
Intel Capital, the U.S.-based firm’s global investment and M&A arm, has provided funds to those companies that are working in the domain of cloud, data center, mobile technologies and consumer services.
For the first quarter of 2022, the Voss Value Fund returned -5.5% net of fees and expenses compared to a -7.5% total return for the Russell 2000 and a -4.6% total return for the S&P 500. According to a copy of the firm’s first-quarter letter to investors, a copy of which ValueWalk has been able Read More
Intel Capital is identifying new growth opportunities through structured networking. Intel Capital’s global summit is preparing a full agenda including a keynote presentation, a panel of experts and arranging over 2,000 meetings between portfolio company CEO’s and important business executives.
Arvind Sodhani, president of Intel Capital and executive vice president of Intel Corporation (NASDAQ:INTC), said, “We are excited to announce new investments in these 16 innovative companies and look forward to supporting them with our unmatched company-building programs like the Intel Capital Global Summit.”
Investments in India
Two India-based firms, Perpetuuiti Technosoft and Savaari Car Rentals, received an investment from Intel Corporation (NASDAQ:INTC).
Perpetuuiti Technosoft is in the business of offering real time visibility and business continuity planning/disaster recovery infrastructure. Savaari Car rental, on the other hand, is an online car rental firm attempting to bring together the disorganized car rental market in India through an online portal.
Bhavanipratap Rana, Intel capital investment director based at Bangalore, and Deepak Gupta, Intel Capital director based in Mumbai, are the investment managers in India looking after both investments.
To date, Intel Capital has invested more than $330 million in over 90 technology companies in India ranging to 10 cities. The first investment in India by Intel Capital dates back to 1998. Since 1991, Intel Capital has provided $11 billion in funds to more than 1,322 companies in 54 countries.
Other companies that received investment
Other companies that received investment from Intel include cloud consultancy CloudFX (Signapore); cloud storage software provider Cloudian (Japan/USA); community website and services platform CSDN (China); 3-D software developer DotProduct (USA); cloud file service Fileforce (Japan); interactive video platform Interlude (Israel); technology peripherals company Lintes Technologies (Taiwan); mobile news syndicator Mobiles Republic (France/USA); visual merchandising and analytics solutions Prism Skylabs (USA); hybrid storage provider Reduxio Systems(Israel); chip simulation acceleration Rocketick (Israel); semiconductor materials developer SBA Materials(USA); open source database solutions SkySQL (Finland); and wireless electricity developer WiTricity (USA).