Intel Capital, Intel Corp.’s global investment and mergers and acquisitions organization, unveiled a $100 million fund that will invest in companies developing applications and digital content suitable for distribution via the Intel AppUp Center app store. That means the Intel Capital AppUp Fund is primarily looking for those developing for mobile devices, embedded devices and netbooks that use Intel Atom processors.
In other news released at the 12th annual Intel Capital Global Summit in Huntington Beach, Calif., Intel Capital also announced its first two recipients: mobile marketing firm Urban Airship; and German operating system vendor and tablet device developer 4tiitoo.
“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,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president. “The Intel Capital AppUp 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.”
Intel Capital also announced ten new and planned investments in global innovation. The companies include: India’s Happiest Minds Technologies and TELiBrahma; China’s Outblaze Venture Holdings, Miartech and MakePolo.com; South Korea’s Neosem; Taiwan’s SNSplus and Insyde Software; and Japan’s OneBe and G-cluster.
Intel Capital said these investments have a total value of $45 million but did not disclose any further breakdown.
Related links:
AppUp Fund Press release – http://tinyurl.com/744f4s2
Intel Capital global investments press release – http://tinyurl.com/7z4b34h
