Intel Capital, Intel Corporation’s global investment and M&A organization, kicked off its annual Intel Capital Global Summit by announcing investments in 10 innovative technology companies, including a strategic investment in India.
The investments totaling $40 million, were announced during Intel Global Summit, will cover a range of technologies from collaborating in the cloud and delivering enhanced digital entertainment to simplifying mobile payments and enabling new forms of device interaction.
The investments 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; mobile proximity platform NewAer; e-payment platform PagPop; cloud services provider Tier 3; 3-D game developer Transmension; and mobile advertising provider UUCun. Financial details of each investment were not disclosed.
“Business deals happen when Intel Capital brings together our vast global network with our portfolio company innovators,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president.
Hungama.com, which received an undisclosed sum from Intel Capital, is India’s leading digital entertainment company. The storefront has over 2-and-half million pieces of content across genres and languages, in the form of music tracks, movies, music videos & mobile content.
Sudheer Kuppam, managing director at Intel Capital, APAC and Japan, said of the investment, “Hungama.com is another great example of an innovative Indian company. It has become India’s largest on-demand Digital Entertainment storefront, which serves audio, video and imagery to South Asians across the world. We’ve been aware of Hungama.com’s success for some time, and we’re excited about working with the company to develop the brand and building upon the success it has found in India by taking the venture global.”
Intel Capital has been investing in India since 1998. Since then, Intel Capital has invested over $300 million in 80+ companies across 10 cities in India.