Intel’s investment arm, Intel Capital, is focusing on investment in Indian technology companies developing applications for PCs and mobile phones.
Focusing strongly on “connecting the next billion”, the investment firm has shown interest in investing in companies developing connectivity applications like WiMax (World Interoperability for Microwave Access).
Sudheer Kumar Kuppam, managing director — India, Japan, ANZ & South East Asia said WiMax would be the next level of connectivity across the country. He said Intel has also come up with WiMax capability technology for notebooks. “We want the government to auction WiMax spectrum which will prove to be the next generation of connectivity to the unconnected areas. Today, notebooks and most of the mobile phones come with WiMax ready, which will drive the next phase of growth,” he said.
Kuppam said that the company is focusing on investing in technology companies across verticals. “India is one of the important markets for us among the emerging countries list. Intel, in 2005, had announced to invest $250 million in India,” Kuppam said.
The investment firm on Thursday announced to invest $17 million in three India companies —Yatra.com, an online travel portal, Buzzindiatown.com, events oriented social network, and Emnet Samsara Media, out-of-home advertising company. However, the firm denied revealing the share of investment in each company.
“We have invested in more than 50 companies in India till now. Of the total $250 million we have invested around half of the funds. Intel Capital places a great deal of importance on encouraging entrepreneurship and technology innovation in India,” said Arvind Sodhani, executive vice president, Intel Corporation and president, Intel Capital.
He added that among the emerging markets, China, India, Brazil and Mexico have been identified as the important markets for investment. He said the firm is eyeing investments in these countries.
In 2007 the investment firm has invested $639 million of which $554 million in new companies. Sodhani said that of the entire investment in 2007, 37 per cent of the investment was made outside US.
Among the Indian companies where Intel Capital has currently invested are mauj.com, Tejas Networks, ITZ Cash and ilantus.