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Intel Capital unveils $100 mn fund for applications

Intel Capital unveils $100 mn fund for applications
PTI
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First Published: Wed, Nov 16 2011. 02 13 PM IST

The Intel Corp logo is seen outside of an Intel Corp building. Photo: Bloomberg
The Intel Corp logo is seen outside of an Intel Corp building. Photo: Bloomberg
Updated: Wed, Nov 16 2011. 02 13 PM IST
New Delhi: Intel Capital, the investment arm of world’s leading chip-maker Intel, Wednesday unveiled a $100 million fund that will invest in software tools and companies developing applications and digital content.
The Intel Capital AppUpSM Fund will invest in companies producing infrastructure, middleware, innovative applications and digital content.
The Intel Corp logo is seen outside of an Intel Corp building. Photo: Bloomberg
It will focus on mobile and PC ecosystem at the Intel AppUpSM centre, Intel’s app store for netbooks, laptops and Ultrabooks, Intel Capital said in a statement.
The initial two investments include Urban Airship, a mobile platform-as-a-service company and 4tiitoo, a German OSV and tablet device developer, it added.
“The explosion of connected computing devices has created tremendous opportunity for entrepreneurs to create and build businesses to meet the unprecedented demand for new and innovative computing applications and digital content,” Intel Capital president and Intel executive vice president Arvind Sodhani said.
The Fund will help encourage the creation of companies interested in delivering or enabling applications that enhance and extend the online experience for the 15 billion devices expected to be connected by 2015, he added.
The Fund is built to advance computing innovations based on Intel architecture in key areas such as digital media consumption, context-aware computing and infrastructure applications.
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First Published: Wed, Nov 16 2011. 02 13 PM IST