May 9, 2018
Intel Capital, the global investment arm of Silicon Valley-headquartered Intel Corporation, has invested in three Chinese technology startups as part of its 12 new technology investments totaling $72 million.
During the Intel Capital Global Summit in California, Intel Capital said it has invested in Chinese tech startups Reconova, Alauda, and Espressif Systems. The amount that the firm invested in each startup, however, was not disclosed.
Reconova is a Xiamen-based AI company that provides visual perception solutions. The firm is dedicated to the research of innovative computer vision and machine learning technologies.
Beijing-based Alauda is a container-based cloud services startup that provides enterprise IT with platform-as-a-service offering and other strategic services.
Espressif Systems, based in Shanghai, is a multinational, fabless semiconductor company that leverages wireless computing to create IoT solutions that Intel Capital said are “more intelligent, versatile, and cost-effective”.
The investment firm said the companies joining its portfolio are driving innovations “that will shape the future of computing over the next decade”.
These startups include AI-based conversational computing to speed the design of virtual assistants; a context-aware app improving the way people experience stadiums, theme parks, hotels and hospitals; and new processors that bring the power of machine learning to mobile devices.
“They’re helping shape the future of artificial intelligence, the future of the cloud and the Internet of Things, and the future of silicon. These are critical areas of technology as the world becomes increasingly connected and smart,” said Wendell Brooks, Intel senior vice president and president of Intel Capital.
With the new $72-million funding, the firm said its investments have already reached more than $115 million so far this year.
Since 1991, Intel Capital has invested US$12.3 billion in over 1,530 companies worldwide, and more than 660 portfolio companies have gone public or been acquired.
Brooks said the latest group of investments reflects Intel Capital’s strategy to make larger investments in new portfolio companies.
“Whether through access to Intel technology, introductions to our worldwide partners or added engineering resources, we’re focused on driving new levels of success for our entrepreneurs,” he said.
Intel Capital has been actively investing in Chinese technology companies. Last year, it backed a Series A+ round in Chinese computer chips maker Horizon Robotics.
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