In a follow up to its announcement regarding investment in start ups, Intel Capital has invested around $77 million in 18 start ups; including Bangalore based Althea Systems And Software Pvt Ltd. Althea Systems And Software Pvt Ltd is online video startup. The investment comes as part of the US firm’s plans for a $77-Mn funding across 18 startups that was announced at the 11th Annual Intel Capital CEO Summit in Huntington Beach, California.
The financing from Intel Capital is expected to enable Althea Systems expand its development team and marketing efforts. Other than the Bangalore start up, the US firm as well made a follow up investment in Noida based Wortal Technologies. The Noida firm runs local events portal buzzIntown.com (an internet portal dedicated to the promotion of entertainment, leisure and lifestyle options in India).
A majority of the investment will also go into American firms with operations in India such as- Internet TV platform firm Verismo Networks, based in Bangalore as well, and video advertising technology company YuMe, based in Chennai. Althea Systems was begun by Vinod Gopinath and is a cloud-based video discovery platform that makes it easier to find and share online videos across various devices. In July, it launched a PC version of Shufflr, a social video browser.
The other start-ups Intel Capital is to invest in include Adaptivity Inc, Anobit, boo-box, De Novo, IPTEGO, Layar, Lilliputian Systems, Inc, Ortiva Wireless, Rock Flow Dynamics, Select-TV, SilkRoad, Taifatech, Videon Central, Winchannel and Yummly.com.
However, Intel announced five follow-on investments in GainSpan Corp., JackBe Corp, Fonality Inc, TecTotal and Wortal. But even with the investments, Intel Capital announced some exits, around 28 that included IPOs, from portfolio companies this year, which is one of its highest. Some of its portfolio companies in India which went public this year include Pune-based Persistent Systems and Infrasoft Technologies (123greetings.com). One of its portfolio firms, mobile VAS services player One97 Communications, has already filed a red herring prospectus.
Intel Capital is the corporate venture capital arm of Intel Corporation. It makes equity investments in technology start-ups and companies worldwide. This year, Intel has made investments in India in companies like Multi Commodity Exchange of India Ltd, July Systems, KLG Systel Ltd and Allied Digital Services Ltd. In August, Intel Capital and JAFCO Asia together invested $5 million in Vriti Infocom Pvt Ltd.
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