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Testing Czars, FINO, Saankhya Labs, enStage, What’s On India, Raise Funding From Intel Capital

Intel Capital has announced an investment round of $20 million(approx Rs 97.81 crore) in six Indian companies. While the investment venture has completed investments in Saankhya Labs, Testing Czars and FINO; it has signed investment agreements with What’s On India, enStage, and DURON Energy. The exact financial terms related to investment in individual companies have not been disclosed.

Intel Capital has completed investments in:

– Testing Czars: An independent test engineering and solutions provider for mobile applications, offers software test products, that it claims, automate the testing of web, mobile and client/server applications. The company intends to use the money raised from Intel Capital to fund further development of its test automation technlogy.

– FINO (Financial Inclusion Network and Operations): A business and banking technology platform provider with a services delivery channel. FINO facilitates no-frill bank accounts, universal health insurance and delivers government pension, and besides being a technology enabler, it also manages cash on the field. It claims to have 15,000 transaction points in 300 districts in 24 states and a customer base of 39 million. It had recently raised Rs 150 crore ($33 million) PE Firm, Blackstone.

 – Saankhya Labs: A semiconductor company that supplies software-defined demodulation solutions for digital and analog tv, radio and other broadcast media. The company intends to use the funding to expand its product offerings and fund global marketing and sales expansion.

It has signed agreements with:

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– What’s On India: An EPG(Electronic Programming Guide) platform, backed by investors including Nexus Venture Partners, Sequoia Capital and Wealth First, it runs a dedicated channel, and offers its EPG to various tv networks, in addition to an online guide, web apps and native mobile apps. The company plans to use the funding amount to expand the technology vertical into new and emerging technologies, and strengthen its owned media platform.

– enStage:  An electronic payment solutions and processing provider. The company offers technology to enable customers to integrate secure payments at point of sale on the internet, mobile or via interactive voice recognition. It intends to use the funds for expansion.

-DURON Energy: A manufacturer and distributor of consumer solar power products for off-grid use in emerging markets.

Earlier this calendar year, Intel had announced that it had invested $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.

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