Intel Capital, the investment arm of Intel Corporation (NASDAQ: INTC), has committed to invest US$23m in three Indian technology companies.
Funding will come from the US$250m Intel Capital India Technology Fund established in December 2005 to invest in technology companies across the country.
Individual investment amounts were not disclosed.
Backed companies include:
– July Systems, a mobile media company providing a suite, the Mi™ Platform, which helps brands publish, distribute and monetize their mobile internet services for consumers.
The company will use the funds to grow its sales, business development and operations teams in North American and the Asia Pacific, as well as deepen R&D investments in its platform.
– KLG Systel, which developed technologies allowing the monitoring and control of electrical devices remotely over the Internet. The company has also developed a software as a service solution for CIS and utility billing and management.
The company, which is listed on the National and Bombay Stock exchange, is also developing a Smart Grid and energy efficiency device based around the Intel Atom processor, as well as creating a center of excellence to showcase technology and emerging models.
– MCX, a Mumbai-based commodity futures electronic exchange that trades more than 40 commodities from various market segments including bullion, energy, metals, fiber, and agro-commodities.