Intel Capital has announced that it has put in $18 million (approx Rs. 81.27 crore) in Indian companies, including investments in new companies PolicyBazaar and healthcare venture, SSARSC, in addition to follow-on investments in Yatra.com, mobile media company July Systems and enterprise application development company WSO2. Intel Capital has not disclosed individual funding details, but as we had reported earlier, Rs. 30 crore (around $6.64 million) has been invested by the fund in PolicyBazaar, in addition to Rs 10 crore from Info Edge. The online insurance aggregator intends to use the funding for building brand awareness and enhancing its technology platform and product portfolio. Intel Capital has also confirmed a follow-on investment in online travel agent Yatra.com, which was announced recently by the company.
Intel Capital has also made follow-on investment in mobile media company July Systems. The company develops cross-platform mobile content applications for media brands like ESPN, CBS, NBA, Turner broadcasting, Disney, HT Media, Network18, Livemint and others. It builds, manages, markets as well as monetizes mobile apps for publishers on its Mi platform.
It intends to use the funding for investing in technology, operations and team expansion. Last year, July Systems raised $7 million in a series-C funding round led by Intel Capital, alongwith Sequoia Capital and Footprint Ventures. It had bagged exclusive rights to the mobile Internet portal M.IPLT20.com, the official site for the third Indian Premier League on the mobile.
WSO2, a lean enterprise middleware company that develops open source enterprise applications has also raised money from Intel Capital. In a funding round of $6.5 million led by Quest Software, Intel Capital also participated.