Intel’s global investment and M&A organisation Intel Capital has announced to create $100m fund in China which will speed up development of devices using Intel based chips.
The company plans to invest the amount in for speeding up the innovation of smart devices such as tablets, smart phones, PCs, 2in1s, wearables, the Internet of Things, and other related technologies in the country.
The move is expected to support Intel strategy to develop the China technology ecosystem as well as the establishment of the Intel Smart Device Innovation Center.
Intel executive vice president and Intel Capital president Arvind Sodhani said innovation in smart devices and the Internet of Things is heralding the evolution of a new ecosystem for computing technologies.
"We are investing to accelerate this exciting new ecosystem, extending from new smart devices and sensors to networks to base stations to servers to big data analytics," Sodhani added.
The new funding represents third such investment from Intel Capital China Smart Device Innovation Fund and would support the current Intel Capital China Technology Fund II, which aims towards expansion of data centre and cloud infrastructure, big data and analytics, software and services, manufacturing, and Intel Labs.
Since 1998, Intel Capital has invested over $670m in over 110 Chinese technology companies.
