Intel Capital, the financial and mergers and acquisition arm of Intel has announced an investment of $67 million in 8 different Chinese tech companies from varied sectors majorly cloud computing, hardware firms, internet of things, big data analytic among others.
The investments demonstrate Intel’s commitment to fostering Chinese technology innovation and accelerating China’s technology ecosystem development
the company said in a statement.
The amount for individual investments have not been disclosed and the companies include 99cloud, Bluebank, Hampoo, Ninebot, Nuovo Film, PraFly, AWcloud and Telink from sectors mentioned above.
These companies now have the opportunity to leverage Intel Capital’s business development programs, global network, technology expertise and brand capital to support their development and drive innovation across exciting next-generation technology categories.
said Arvind Sodhani, executive vice president of Intel and president of Intel Capital adding that the recent investment marks the celebration of 30th anniversary of Intel in China. The company also revealed investing a total sum of over $1.9 billion in more than 140 technology companies in China since 1998 among whom 30 companies have gone public.
Intel has recently become more aggressive in its investments in China. Last year, the company invested US$28 million in many Chinese startups, which were primarily focused on wearables, mobile, and home tech.
And just last month, it invested a sum of $60 million in a Shanghai-based drone and aerospace company called Yuneec International Co. Earlier this year,Intel Capital’s MD for China, Richard Hsu admitted in an interview that these past few years have been “the most exciting time to be in tech investment in China.”
However it isn’t just China where Intel Capital is marshalling massive funds. It has been investing heavily in cloud computing and datacentre firms and recently participated in a $20 million funding round for California-based BlueData; a $43 million funding round for cloud monitoring company ScienceLogic and in a $32 million funding round for Israel-based datacentre management firm Stratoscale.
Apart from these, it also launched a new $125 million fund for startups run by females and minorities. Last month, it formed an alliance with OpenStack firm Mirantis, which included taking part in its $100 million funding round.