Intel Capital invests $25M in 7 new startups
Intel said today that it has invested $25 million in seven new startups as part of its goal of increasing demand for its own products. The investments were led by Intel Capital , which is the investment arm of the Santa Clara, Calif.-based chip maker. The investments show that Intel hasn’t flinched from its goal of supporting startups during the recession, said Arvind Sodhani (right), president of Intel Capital, at a press conference at Intel’s 10th annual CEO Summit in Huntington Beach, Calif. As proof of that, he noted that Intel has made 10 follow-on investments on its previous investments. The new investments include U.S.-based Joyent (cloud computing) and Active Storage (RAID storage systems for Apple users), Korea-based Crucialtec (optical modulation technology), Taiwan-based Gudeng Precision Industrial Co (semiconductor front-end equipment manufacturing), Japan-based V-cube (Web-based videoconferencing systems), China-based Phoenix New Media (Web information portal) and United Arab Emirates-based NeuString (telco pricing analytics software). Sodhani said that Intel’s investments are aimed at its strategic goals of increasing demand for Intel products
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Intel Capital invests $25M in 7 new startups