Intel Capital, Intel Corporation’s global investment and M&A organisation, said it will invest up to $40 million in 10 innovative technology companies.
The investments will go into companies such as Hungama.com, FocalTech, Jelli, LIFO Interactive, NewAer, 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.
Indian company Hungama.com, which received an undisclosed sum from Intel Capital, is India’s leading digital entertainment company that launched India’s first and largest on-demand digital entertainment storefront.
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 build 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 more than 80 companies across 10 cities in India.