Intel Capital backs New Zealand, India software start-ups

Performance Lab, an Auckland-headquartered start-up that produces real-time exercise measurement analysis and virtual coaching software, has received an undisclosed sum. It will use the proceeds to advance product development and accelerate international expansion.

The company was founded by Jon Ackland, a former national rowing champion and Ironman triathlete, who has been involved in training program design for high-performance athletes for more than 20 years. Performance Lab's technology works across most fitness and wellness devices, using movement sensors, physiology and past performance to provide automated coaching in real-time.

The investment was led by Deepak Natarajan, an Intel Capital director responsible for Southeast Asia, Australia and New Zealand. He will join the Performance Lab board as an observer

"The sports, fitness, health and wellness sectors are fueling strong global demand for smart gadgets," said Sudheer Kuppam, managing director for Intel Capital in Asia Pacific, said in a statement. "Performance Lab's suite of products provides enduring value to the smart gadgets that customers are incorporating into their health and fitness regimen."

The VC unit has also led a Series A round of funding for Helpshift, a customer relationship management (CRM) platform for mobile apps based in Pune and San Francisco. Visionnaire Ventures also participated, as did existing investors True Ventures and Nexus Venture Partners. The latter two firms provided $3.2 million in seed funding in October 2012.

Helpshift is installed on more than 150 million devices worldwide and is used by the likes of Supercell, Glu Mobile, Flipboard and ModCloth. The company was founded by Abinash Tripathy and Baishampayan Ghose to address the problem that on average apps lose more than 90% of users within 90 days of being downloaded. Helpshift facilitates user engagement, driving high retention rates and app store ratings.

"Mobile gaming is the most significant app economy today, and as a result, most customer-centric innovation in mobile happens here. As a media executive and investor, Helpshift's machine learning based CRM technology allows leading gaming and m-commerce companies to focus their interactions with users in near tailored approach," said Taizo Son, co-founder, GungHo Online Entertainment and a Visionnaire LP, in a statement.

Intel Capital has invested more than $11 billion in 1,366 companies in 55 countries since 1991. In 2013, it deployed $333 million across 146 deals, with approximately 49% of the capital invested outside North America.

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