Intel Capital said Friday that it has invested $18 million or about Rs 80 crore in five Indian firms. However, the company did not disclose details of individual investments.
The investment arm of chipmaker Intel Corp has picked up minority equity stakes in companies such as PolicyBazaar and Sudhir Srivastava Robotic Surgery Centre (SSARSC).
PolicyBazaar is an online insurance comparison site that helps consumers in making informed decisions about their insurance purchase, while SSARSC is a provider of advanced robotic surgery procedures for speciality areas such as cardiac, urology and orthopaedics among others. SSARSC is the first healthcare investment of Intel Capital in India.
Intel Capital also enhanced its investments in Yatra.com — an online travel firm July Systems — a mobile media company and WSO2, an application development software firm.
“Our investment in these companies is proof of our ongoing commitment to nurture technology innovation in India. Our support will give them access to global resources, knowledge and expertise to assist with their own growth and success,” said Mr Arvind Sodhani, President of Intel Capital and Executive Vice-President of Intel. The company would continue to invest in areas such as data centre and cloud computing, he added.
Intel Capital has made these investments from its $250 million Intel India Technology Fund. The company has exhausted about 70 per cent of its India fund by making investments in technology firms to stimulate local technology innovation. PolicyBazaar plans to utilise the investment in building brand awareness and enhance its technology platform. SSARSC plans to use the funds to launch 8-10 robotic surgery centres across the country.