Intel Capital Invests US$16 Million in e-Commerce ventures across Asia

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Intel Capital Invests US$16 Million in e-Commerce ventures across Asia

CoolAvenues Newswire | June 07,2013 04:25 pm IST

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Intel Capital, Intel Corporation’s global investment and M&A organization, announced today at the World Economic Forum in Nay Pyi Taw, Myanmar, three investments in e-commerce firms seeking to scale up and extend their businesses in Asia..

The investments, totaling approximately US$16 million, are: India’s Bright Lifecare, a premier distributor of nutrition, health and wellness products; Snapdeal.com, a leading consumer goods marketplace in India; and existing portfolio company Singapore’s Reebonz.com, one of Asia’s largest private luxury goods retailers.

“Intel Capital focuses on adding unique and differentiated value beyond just financial investments by providing entrepreneurs strategic expertise, a global network and business development programs to help them reach new customers and successfully scale businesses for a global economy,” said Arvind Sodhani, president of Intel Capital and Intel Executive Vice-President. “These three exciting and innovative companies are delivering new e-Commerce experiences to an ever-increasing customer base. We look forward to helping them grow and succeed through our resources and their passion.”

These investments will help drive innovation in the fast-growing e-commerce and distribution industries. Growth in Asia’s middle-class, overall expansion of its economy and ever improving internet connectivity in the region has given rise to a considerable online retail market opportunity for these firms.

Intel Capital started investing in Asia Pacific in 1998. To date, it has invested over US$2 billion in more than 320 technology companies in a variety of industries including: mobile computing, consumer Internet, cloud computing, software and services and semiconductor design and manufacturing. Over 60 of these companies have gone public or have been acquired.

Intel Capital was one of the first investment organizations to enter India in 1998 and has since then invested over $320 million in 80+ companies across 10 cities in the country. Out of these over 20 companies have gone public since. Last year Intel Capital invested in 6 companies: Hungama.com, Yatra.com, July Systems, Tejas Networks, WSO2 Inc. and Saankhya Labs. The investment directors for these investments are: PradeepTagare (Mumbai) for Bright Lifecare, Mahesh Vaidya (New Delhi) for Snapdeal.com and Deepak Natarajan (Singapore) for Reebonz.com.

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