Industry

Intel Capital to invest in two Indian dotcom ventures

Seeking to scale up business in Asia, Intel Corporation’s global investment and M&A arm, Intel Capital, on Friday, said it would invest about $16 million in three e-commerce ventures in the region, including two Indian companies.

The company would be investing in India's Bright Lifecare, a distributor of nutrition, health and wellness products; Snapdeal.com, a consumer goods marketplace in India; and existing portfolio company Singapore's Reebonz.com, one of Asia's largest private luxury goods retailers, the company said in a statement. The company would provide $16 million along with business development, global network, and technology expertise, it added.

“We see start-up companies across Asia-Pacific taking advantage of new business opportunities created by the spread of personal computing and broadband Internet access. These technologies allow entrepreneurs to reach new markets and customers, and offer innovative new services that will help to enrich the lives of people across Asia,” said Gregory Bryant, vice-president and general manager, Intel Asia-Pacific.

In India, the firm has invested over $320 million in over 80 companies. Last year, Intel Capital invested in six companies — Hungama.com, Yatra.com, July Systems, Tejas Networks, WSO2 Inc., and Saankhya Labs.


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Printable version | Jan 18, 2022 1:51:03 AM | https://www.thehindu.com/business/Industry/intel-capital-to-invest-in-two-indian-dotcom-ventures/article4791859.ece

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