Intel Capital invests $8.8 m in NxtGen

Intel Capital, chip-maker Intel Corp’s investment arm, has invested $8.8 million (about Rs 50 crore) in Bangalore-based start-up NxtGen Datacenter & Cloud Technologies. “This investment from Intel Capital will be used to complete the large high-density data centre facility coming up in Bangalore, which we expect to be operational by March 2014, and for further development of on premise data centres,” said A.S. Rajgopal, Managing Director and Chief Executive Officer, NxtGen Datacenter. Intel Capital has been investing in India since 1998, and has invested $330 million in more than 90 technology companies. “We look forward to playing a strategic role in helping NxtGen to succeed by providing access to our global network, technology expertise, and brand capital,” said Arvind Sodhani, President of Intel Capital and Intel Executive Vice-President.