Tuesday, March 30, 2010

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Intel invests in 3 Indian IT cos

Computer chip maker Intel's investment arm, Intel Capital has invested $23 million (Rs.115 crore) in three technology firms to foster innovation in India, the company said.

The three firms are July Systems, KLG Systel and MCX.

Intel Capital, however, did not disclose the investment in each of the firms, claiming confidentiality.

The company issued a statement here that funding would be drawn from the Intel Capital India Technology Fund floated in 2005.

"The investments will stimulate local technology innovation and reinforces our commitment towards fostering Indian innovation," Intel Capital president Arvind Sodhani said.

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