Intel Capital to Invest US$20Million in Six Indian Companies

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Intel Capital has announced plans to invest approximately US$20million, in six Indian companies. The investments are part of Intel Capital's ongoing efforts to support Indian technology innovation and entrepreneurship.

"Indian entrepreneurs are increasingly at the forefront of innovation, using technology to change the way we live and do work. Intel Capital's investments in these six companies will help them grow their businesses and push into new markets," said Arvind Sodhani, President, Intel Capital and executive vice president of Intel.

The six companies that Intel Capital plans to invest in are - Saankhya Labs Pvt. Ltd.; Testing Czars; Financial Inclusion Network and Operations (FINO); What's on India Pvt. Ltd., enStage; DURON Energy Pvt. Ltd.

Three investments - Saankhya Labs, Testing Czars, and FINO - have been completed. Intel Capital has signed investment agreements with What's on India, enStage and DURON Energy. Details of these six investments, including the amount to be invested in each company were not disclosed.

"The computing revolution is just starting in India. As PC ownership rises among Indian households, there is growing demand for online services and content. Intel is working closely with our Indian customers to help them meet this demand," said Navin Shenoy, VP & GM, Asia-Pacific, Intel.


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