Intel Capital invests USD 23 million in Indian tech firms

Intel Capital, Intel Corporation’s global investment unit, on Thursday said it has invested USD 23 million in three Indian technology companies – July Systems, KLG Systel and MCX.

However, the firm did not reveal the amount the three companies have received individually.

Funding would come from the USD 250 million Intel Capital India Technology Fund, established in December 2005, Intel Capital said in a statement.

“This fund invests in Indian technology companies to stimulate local technology innovation and the continued growth of India’s information technology industry,” it said.

July Systems provides mobile internet solutions, which enables media brands to publish, distribute, monetise inventory and personalise services for consumers.

KLG Systel provides smart grid and energy management and efficiency solutions to power utilities and end-users.

MCX, a leading commodity futures electronic exchange in India, has permanent recognition from the Indian government for facilitating online trading, clearing and settlement operations for futures market across the country.

“Intel Capital’s investment in July Systems, KLG Systel and MCX reinforces our commitment towards fostering Indian innovation,” President of Intel Capital and Executive Vice- president of Intel Arvind Sodhani said.

Since 1998, Intel Capital has invested more than USD 200 million in Indian technology companies across 10 cities, the statement added.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s