Intel invests $16M in Asian e-commerce sites

Investment arm of chip giant has funded two Indian and one Singapore e-commerce sites: Bright Lifecare, Snapdeal, and Reebonz. It will provide business development support and technology expertise.

Intel Capital has invested US$16 million in three e-commerce sites acoss Asia to scale up and extend their businesses in Asia.

The global investment and M&A organization arm of the chip giant said in a statement on Friday the three sites are:

  1. Indian distributor of nutrition, health and wellness products Bright Lifecare,
  2. Indian consumer goods marketplace Snapdeal,
  3. and Singapore private luxury goods retailer Reebonz.
Indian online marketplace Snapdeal is one of the three e-commerce companies receiving part of the US$16 million investment.

Other than the US$16 million funding, Intel will provide business development, global network and technology expertise to the three firms.

"We see startup companies across Asia-Pacific taking advantage of new business opportunities created by the spread of personal computing and broadband Internet access," Gregory Bryant, vice president and general manager of Intel Asia-Pacific said in the statement.

These technologies also allow entrepreneurs to reach new markets and customers, and offer new services that will help to "enrich the lives of people across Asia", he added.

According to the statement, Intel Capital started investing in Asia-Pacific in 1998 and has invested in more than US$2 billion in more than 320 technology companies in a variety of industries including mobile computing, consumer Internet, cloud computing, software and services and semiconductor design and manufacturing.

Earlier this week, it created a US$100 million investment fund to accelerate the development of "human-like" sensing technology in devices across its architecture platform.

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