Intel Capital commits $16m to Asia e-commerce

Bright Lifecare runs HealthKart, a site that sells health and wellness products, while Snapdeal.com is a consumer goods marketplace. Existing portfolio company Reebonz.com is a private luxury goods retailer based in Singapore. The company received investment from Intel last May when $17 million was committed to it and Hanoi-based Vietnam Communications Corporation (VCC).

Intel said it hoped the investments would drive innovation in the fast-growing e-commerce and distribution industries. "These technologies allow entrepreneurs to reach new markets and customers, and offer innovative new services that will help to enrich the lives of people across Asia," Gregory Bryant, vice-president and general manager of Intel Asia Pacific, said in a statement.

Across Asia, middle class growth and the overall expansion of region's economy and improving internet connectivity means online retail is attracting a lot of attention from overseas investors.

In May, Sudheer Kuppan, Intel Capital's managing director for India, Japan, Australasia and Southeast Asia told AVCJ that rather than investing in disruptive technologies, Intel tried to identify those technologies that could have a significant upside if they become financially and commercially viable.

"In emerging markets the motivation is to drive more users to get on the Internet and use technology. It's kind of evangelizing technology, to increase PC and broadband penetration rates," he said.

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• Topics
• South Asia
• Southeast Asia
• Consumer
• Technology
• Venture
• Investments
• India
• Singapore
• Intel Capital
• Consumer