Intel invests $26 million in six startups
2/14/2011 11:46 AM EST
SAN FRANCISCO—Intel Capital, the venture capital arm of the world's largest chip maker, announced Monday (Feb. 14) $26 million worth of deals to fund six startups related to the mobile hardware space.
The recipients of Intel's latest investments include open source mobile software solutions company Borqs Beijing Ltd., location-based mapping platform and tools provider CloudMade Inc.; image sensor vendor InVisage Technologies Inc.; open source online video platform Kaltura, online authentication provider SecureKey Technologies Inc. and unified communications and collaboration service software provider VisionOSS Solutions Ltd., Intel (Santa Clara, Calif. said.).
Intel did not disclose how much funding it provided to each firm.
Intel said each of the six companies it funded have developed innovative technologies to enhance the user experience across a continuum of devices, including handhelds, tablets and laptops, that run a variety of operating systems including MeeGo and Android.
"As more devices compute and connect to the Internet, it creates an opportunity to deliver new end-user capabilities by supporting the development of mobile infrastructure, applications, services and components for Intel architecture-based platforms," said Arvind Sodhani, president of Intel Capital, in a statement. "These six investments represent key growth areas of the mobile ecosystem and will contribute to bringing important features to the next generation of mobile devices."
Anand Chandrasekher, senior vice president and general manager of the Intel's Ultra Mobile Group, said Intel is working with each of the six firms to help advance the company's mobile platform initiatives. "The investments, coupled with Intel’s expanding set of capabilities in silicon, software and communications, will help the company accelerate plans across a variety of smart devices and market segments," Chandrasekher said.