Press release from Business Wire India
Source: Intel Corporation
Wednesday, January 14, 2009 03:19 PM IST (09:49 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges, Telecommunications; Technology
Release no: 18958
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Intel Capital Invests US$23 Million in Three India Companies
Indian Companies One97 Communications, IndiaMART.com and Global Talent Track Receive Intel Capital Funding
New Delhi, Delhi, India, Wednesday, January 14, 2009 -- (Business Wire India) -- Intel Capital, Intel Corporation's global investment organization, today announced an investment of US$23 million in three Indian companies:
-- One97 Communications, one of the largest private independent providers of telecom-managed value added services in India; existing investors also participated.
-- IndiaMART.com, the largest online B2B marketplace connecting Indian suppliers with domestic and international buyers.
-- Global Talent Track (GTT), a vocational educational institute; investment co-led by Helion Venture Partners.
Individual investment amounts were not disclosed. The funding will come from the $250 million Intel Capital India Technology Fund, established in December 2005. This fund invests in Indian technology companies to help stimulate local technological innovation and the continued growth of India's information technology industry.
"These investments demonstrate Intel Capital's unwavering commitment to investing in technology innovation globally," said Arvind Sodhani, president of Intel Capital and executive vice-president of Intel. "This year also marks ten years of successful Intel Capital investments in India, underlining our long-term focus on this important emerging market."
"Since 1998, Intel Capital has invested in approximately 60 Indian companies across 10 cities, showing the importance we place on fostering entrepreneurship and technology innovation in the country" added Sudheer Kuppam, Intel Capital managing director for India, Japan, Australasia and South-East Asia.
"Our latest investments in One97 Communications, IndiaMART.com and GTT reinforce our continued interest to develop the country further through support of novel and exciting business models."
Intel Capital continues to demonstrate its stage-agnostic investing style by supporting successful companies in various stages of growth. Intel Capital plans to work closely with each company and offer its company building capabilities such as customer introductions, global reach, brand recognition, and technology expertise.
Investment in One97 Communications Pvt. Ltd.
Founded by Vijay Shekhar Sharma (who is also the Managing Director) in 2000 and headquartered in NOIDA, One97 Communications Pvt. Ltd. is the largest private independent provider of telecom managed value added services in India, covering the entire telecom VAS value chain - carriers, consumer and enterprise. It is also the only private independent company addressing the rapidly growing mobile VAS platform segment in India with deployment for all leading Indian telcos. One97 Communications will use Intel Capital funds to scale up its operations and increase sales and marketing in India and abroad.
Investment in IndiaMART.com
IndiaMART.com is an online B2B marketplace connecting Indian suppliers with domestic and global buyers. The company has a presence in over 100 cities pan-India and focus on various verticals including apparel, chemicals, handicrafts, gems, electronics and engineering components, industrial products, furnishings and more.
IndiaMART.com will use Intel Capital funds to grow market share by launching marketing initiatives, expanding service offerings, extending reach into new markets and geographies, and evaluating potential strategic opportunities.
Investment in Global Talent Track
Global Talent Track (GTT) addresses the current gap in the demand and supply of trained manpower, providing a range of short and long term courses in a number of vocational fields. GTT also works closely with universities and industry to design career oriented learning content, provide the technology platform appropriate to host the content and manage the entire learning delivery process. Founded in 2008 by Dr. Uma Ganesh a veteran of the Education industry and with luminaries like Dr. Ganesh Natarajan of Zensar, Mr Kiran Karnik of NASSCOM and Prof Bob Eccles of Harvard Business School on its advisory board, GTT will use Intel Capital funds to start rolling out vocational education services in India and abroad.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$7.5 billion in approximately 1,000 companies in 45 countries. In that timeframe, 168 portfolio companies have gone public on various exchanges around the world and 212 were acquired or participated in a merger. In 2008, Intel Capital invested about US$1.59 billion in 169 investments with approximately 62 percent of funds (excluding Clearwire) invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About One97 Communications Pvt. Ltd.
One97 is India's largest and most widely deployed telecom application platform reaching 97% mobile subscribers in India. Every month more than 150 million unique telecom subscribers perform over a billion transactions on this platform using Voice, SMS and WAP applications. The focus of One97's work is to enable telecom networks in becoming the best and most used media to deliver content, information and intelligent transactions to consumers. Collaborating closely with Telecom Operators, One97 works for enhancing their revenue and profitability.One97 offers intelligent services to telecom as a medium for communicating with their customers and enabling business processes. For more information: http://www.one97world.com.
About IndiaMART.com
IndiaMART.com is India's largest online B2B marketplace connecting global buyers with suppliers through online business directories and product catalogues, buy-sell offers, industry specific marketplaces, printed media and trade shows participation. Established in 1996, IndiaMART.com has been one of the fastest growing B2B platforms since its inception backed by a state-of-the-art web-development center, one of the largest of its kind in the world. With approximately1000 employees covering a network of 100 cities pan-India, IndiaMART.com offers an extensive range of value added products and services to over 500,000 members and over 5 million global buyers across industries and verticals.
IndiaMART.com has won numerous awards over the years including Red Herring 100 Asia & Emerging India and the company has been widely covered by media such as CNBC, BBC, BusinessMoney, CNN, Businessworld, Economic Times, Financial Express etc. For more information, please visit www.indiamart.com.
About Global Talent Track
Global Talent Track (GTT) is a venture which aims to address the current gap in the demand and supply of trained manpower and is designed 'to deliver quality with scale.' Global Talent Track is a venture promoted by seasoned industry professionals from IT, Banking, BPO and Education sectors, plans to provide a range of short and long term courses in a number of vocational fields and will train 5,00,000 people in five year's time. Global Talent Track plans to create a unique eco system for supporting employment generation and will address the entire value chain for addressing the needs of students. For more information please visit http://www.gttconnect.com.
Intel and the Intel Capital logo are trademarks or registered trademarks of Intel Corporation or its subsidiaries in the United States and other countries. Other names and brands may be claimed as the property of others.
CONTACT DETAILS
Saranya Rustagi, Intel Corporation, +91 98338 23474, saranya.rustagi@intel.com
Devlina Dutt, IPAN, +91 93222 80014, devlina.dutt@ipan.com
KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TELECOMMUNICATIONS, TECHNOLOGY, INTC.O
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