Bengaluru: Chipmaker Intel Corp. expects to invest more in Indian start-ups working on the Internet of Things (IoT) in 2015 through its investment arm Intel Capital.

“In India, as IoT takes off, I expect we will see more start up-activity, and hence more potential for investment in India," Kumud Srinivasan, India president of Intel said on Monday.

“There isn’t a target funding. If the technology is of interest and we believe that it will help us advance our road maps, then we’ll invest. We expect it to go up as start-ups increase, innovation in technology, in the IoT space, will increase and then that will draw Intel Capital funds," she added.

India, the fourth largest base for young businesses in the world and home to 3,000 tech start-ups, is set to increase the base to 11,500 tech start-ups by 2020, a report by software lobby Nasscom and Zinnov Management Consulting Pvt. Ltd said on Sunday.

In November of 2014, Intel Capital said it would invest about $62 million in 16 technology companies working in wearables, data analytics and IoT.

In the past, it has also invested in online retail companies such as Snapdeal.com and Bright Lifecare Pvt. Ltd, which runs Healthkart.com.
It has also made investments in Bangalore-based IT infrastructure services provider NxtGen Datacenter and Cloud Technologies Pvt. Ltd.

IoT is expected to connect 28 billion devices to the Internet by 2020, compared with one billion users accessing the Internet through personal computers or two billion users accessing it via phones and tablets.

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