Intel invests $23m in three Indian tech companies

The semiconductor giant’s venture arm has made commitments to One97 Communications, IndiaMART.com and Global Talent Track from its $250m Intel Capital India Technology Fund.

Intel Capital has invested $23 million in One97 Communications, IndiaMART.com and Global Talent Track, all Indian technology companies.

Founded in 2000, One97 Communications is a provider of mobile telecom services to network operators and other businesses. The investment will be used to scale up operations and increase sales and marketing efforts in India and overseas.

IndiaMART.com is an online business to business marketplace connecting Indian suppliers with domestic and global buyers. In India, it has a presence in more than 100 cities and focuses on sectors such as clothing, chemicals, gems, electronics, engineering components and industrial products.

Global Talent Track provides long and short term courses in various vocational fields. It also works with universities and industries to design career-oriented courses, providing the technology platform and managing the learning delivery process. The company will use the cash injection to set up vocational education services in India and abroad.

The investments were made from the $250 million Intel Capital India Technology Fund, launched in 2005. The fund invested around $17 million in another three Indian technology companies in July 2008.

In October 2008, the firm invested in three Chinese companies from its $500 million China fund.

Since 1991, Intel has invested more than $7.5 billion in approximately 1,000 countries in 45 countries. It began investing in India in 1998.