Intel venture capital fund buys into two Bangalore companies

Intel Capital, the global venture capital arm of chipmaker Intel Corp, has announced $77 million of investments across 11 countries, including India and the US.

The fund is reported to have invested $3 million in Bangalore-based company Althea Systems.

The fund also invested in California and Bangalore-based Verismo Networks, and made a follow-on investment in Noida-based Wortal Technologies. However, financial details of the two transactions are not available.

Intel Capital said the new investments will help enable advancements in adjacent computing areas including smart TVs, tablets and smartphones.

“These 18 investments help advance next generation computing technologies aligning with Intel’s vision that more and more devices will compute and connect to the Internet, called the ‘compute continuum’,” said Arvind Sodhani, president of Intel Capital.