Intel Capital, Intel Corporation’s global investment and M&A organisation, kicked off its annual Intel Capital Global Summit by announcing investments in 10 innovative technology companies, including a strategic investment in India. Totaling approximately $40 million, they 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.
Intended to help these companies grow to the next level, the investments reinforce the Global Summit’s two-day agenda focused on company building.
The investments include Bollywood and South-Asian content distributor Hungama, 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. “Our annual Global Summit and the ongoing Intel Capital Technology Days provide our portfolio companies with unmatched access to the decision-making executives critical to revenue-generating sales or partnerships. The 10 new investments in innovative companies stand to benefit greatly from these longstanding company-building resources,” he added.
Indian company Hungama, which received an undisclosed sum from Intel Capital, is a leading digital entertainment company that launched India’s first and largest on-demand digital entertainment storefront. The storefront has over two 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 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’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.”
Neeraj Roy, Chairman, Hungama said, “We have been working with Intel Corp over the last few years. As a company we are delighted to have Intel Capital partner with us on the Hungama opportunity.” He added, “Hungama is the only platform-agnostic digital entertainment storefront that caters to over 1.5 billion South Asians worldwide, via mobile, internet, connected devices, DTH and retail.”
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.