Intel Capital invests $67m in eight Chinese companies
Intel Capital has committed $67 million to eight Chinese technology start-ups working in smart devices, robotics, the internet of things, cloud services, big data, and data analytics.
The companies include Ninebot, an electric scooter manufacturer that raised a $80 million Series A round of funding earlier this year in order to finance the acquisition of US-based rival Segway. It serves customers in more than 100 countries and claims a 60% global market share in personal transporters. The company also has 400 core patents representing 90% of worldwide patents in the space.
There is one other robotics-focused investments among the eight: Shenzhen PraFly Technology, which develops solutions used in energy management, in-vehicle systems, intelligent couriers, intelligent manufacturing, unmanned driving training, and industrial security auditing systems.
There are also two cloud-computing service providers, 99cloud and AWcloud Technology; printed circuit board manufacturer Shenzhen Hampoo Science &Technology; smart devices and software developer Bluebank Communication Technology; and Nuovo Film, which produces components for smart phones, tablets, PCs and wearable devices.
The investment in the eighth company, chipmaker Telink Semiconductor, is the only one yet to reach a formal close.
"Our investments, new products and collaborations in China support the government's national initiative to uplift its innovation economy and continue Intel's long-term commitment to accelerating CTE development in China and driving global innovation and entrepreneurship," Ian Yang, president of Intel China, said in a statement.
Intel Capital is the captive venture capital unit of the eponymous chipmaker. It has invested $1.9 billion across more than 140 technology companies in China since 1998, including $1 billion in Beijing UniSpreadtrum Technology. The firm has seen 35 of its investees go public or be acquired by strategic investors.
Intel Capital currently operates through the $500 million Intel Capital China Technology Fund II and the $100 million Intel Capital China Smart Device Innovation Fund. Earlier this year Intel Corporation also backed a local accelerator program.
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