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Intel Capital invests $18mn in five Indian firms news
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Intel Capital, the venture capital arm of Intel Corp, announced in Bangalore on Friday that it has made a total investment of $18 million in five Indian companies. Details of the individual investments were not disclosed.
One of the investments is in PolicyBazaar, a leading online insurance comparison site that assists people to make informed decisions about their insurance purchase.
The investment funds would be used for building brand awareness and further enhancing PolicyBazaar's technology platform and product depth, according to an Intel statement.
Intel Capital also signed an agreement to invest in Sudhir Srivastava Robotic Surgery Centre, a provider of advanced robotic surgery procedures for speciality areas such as cardiac, urology, thoracic, gynaecology, orthopaedics, head and neck and general surgery, subject to meeting customary conditions.
This marks Intel Capital's first investment in the healthcare sector in India.
In addition to these two new investments, it announced follow-on investments in mobile media company July Systems; online travel company Yatra.com; and open-source application development software company WSO2.
Intel Capital started looking at opportunities in India in 1998 and has so far invested $285 million in 65 companies.
The venture capital firm will invest aggressively in technology to promote a new ecosystem, its president Arvind Sodhani told Wall Street Journal in an interview.
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