The newly-funded tech firms are from industries such as IoT, robotics, cloud and data business as well as hardware manufacturing
Sourced through Scoop.it from: e27.co
The newly-funded tech firms are from industries such as IoT, robotics, cloud and data business as well as hardware manufacturing. Intel’s global investment and M&A arm Intel Capital announced today that it has invested US$67 million in eight Chinese tech companies. These companies are 99cloud, AWcloud, Bluebank, Hampoo, Ninebot, Nuovo Film, Prafly Technologies and Telink Semiconductor.
Financial details of the investment were not disclosed. “These companies now have the opportunity to leverage Intel Capital’s business development programmes, global network, technology expertise and brand capital to support their development and drive innovation across exciting next-generation technology categories,” Arvind Sohani, Executive Vice President of Intel and President of Intel Capital said, in an official statement. Intel has been operating in China for 30 years and till date has four investment funds focussed on Asia’s largest economy. On August 26, the company invested US$60 million into Chinese drone company Yuneec. Last year, it bought a 20 per cent stake in state-owned chipmaker Tsinghua Unigroup for US$1.5 billion. Intel is deeply embedded in China and Ian Yang, Corporate VP at Intel and President of Intel China issued a statement expressing support for the tech-related policies established by the Communist Party. “Our investments, new products and collaborations in China support the government’s national initiative to uplift its innovation economy and continue Intel’s long-term commitment to accelerating CTE development in China and driving global innovation and entrepreneurship,”