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Intel Capital invests in three India companies

Posted: 16 Jan 2009 ?? ?Print Version ?Bookmark and Share

Keywords:investment Intel? India companies investment? funding technology?

Intel Capital has announced an investment of $23 million in three India companies: One97 Communications Pvt. Ltd, and Global Talent Track (GTT).

Individual investment amounts were not disclosed. The funding will come from the $250 million Intel Capital India Technology Fund established in December 2005. This fund invests in Indian technology companies to help stimulate local technological innovation and the continued growth of India's information technology industry.

"These investments demonstrate Intel Capital's unwavering commitment to investing in technology innovation globally," said Arvind Sodhani, president of Intel Capital and executive VP of Intel. "This year also marks ten years of successful Intel Capital investments in India, underlining our long-term focus on this important emerging market."

Intel Capital has invested in approximately 60 India companies in 10 cities since 1998, according to Sudheer Kuppam, Intel Capital managing director for India, Japan, Australasia and South-East Asia. Intel Capital plans to work closely with each company and offer its company-building capabilities such as customer introductions, global reach, brand recognition and technology expertise.

Scale up operations
Founded in 2000, One97 Communications is the largest private independent provider of telecom managed value-added services (VAS) in India, covering the entire telecom VAS value chaincarriers, consumer and enterprise. The company will use Intel Capital funds to scale up its operations, and increase sales and marketing in India and abroad.

An online B2B marketplace, has a presence in over 100 cities pan-India and focus on various verticals including apparel, chemicals, handicrafts, gems, electronics and engineering components, industrial products, furnishings etc. The company will use Intel Capital funds to grow market share by launching marketing initiatives, expanding service offerings, extending reach into new markets and geographies, and evaluating potential strategic opportunities.

GTT addresses the current gap in the demand and supply of trained manpower, providing a range of short and long term courses in a number of vocational fields. The company will use Intel Capital funds to start rolling out vocational education services in India and abroad.

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