Intel Capital, chipmaker Intel's global investment arm, on Wednesday announced an investment of $23 million in three Indian companies- One97 Communications, IndiaMART.com and Global Talent Track.
With these investments, the organisation has spent nearly $100 million of its $250-million Intel Capital India Technology Fund set up in December 2005.
Intel Capital is looking at four areas for investments- WiMAX and mobility, clean tech and renewable energy, consumer Internet and education, its India, Japan, Australasia and South East Asia MD Sudheer Kuppam said.
While the investment arm did not disclose individual investment figures, it's learnt that about $9-10 million has been invested in IndiaMART.com, an online business-to-business marketplace for apparels, chemicals and electronics. The company said it will use the fresh fund infusion for new branding and marketing initiatives.
Global Talent Track, in which Intel Capital has invested along with Helion Ventures, is a start-up. The new investments will help the vocational education firm set up its training centres across the country. Its first centre will come up at Pune in March this year.
Telecom solutions provider One97 Communications has received about $15 million from Intel Capital and Silicon Valley Bank. The value-added services (VAS) provider will invest another $15 million from internal accruals to fund its R&D lab for third generation (3G) wireless network.
Intel Capital has invested in about 60 Indian companies since 1998. The organisation makes investments at various stages of a company in return for a minority stake.
Intel Capital also gets to nominate an independent board director and appoint its own executive as a board observer. It also helps companies in customer acquisition by providing them its own channel partners and arranging interactions with customers.
Source: Economic Times