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2013-06-07

Intel Capital invests $16 m in three e-commerce firms in Asia

Intel’s global investment and M&A arm, Intel Capital on Friday announced three investments of approximately $16 million in e-commerce firms seeking to scale up and extend their businesses in Asia.

Intel’s global investment and M&A arm, Intel Capital on Friday announced three investments of approximately $16 million in e-commerce firms seeking to scale up and extend their businesses in Asia.

As per a release by Intel Capital, the companies that secured investments are India’s Bright Lifecare, a distributor of nutrition, health and wellness products and Snapdeal.com, the leading consumer goods marketplace in India. The third investment has been made into Intel Capital’s existing portfolio company from Singapore, Reebonz.com, a private luxury goods retailers. The announcement was made at the World Economic Forum in Nay Pyi Taw, Myanmar.

“These three exciting and innovative companies are delivering new e-commerce experiences to an ever-increasing customer base.  We look forward to helping them grow and succeed through our resources and their passion,” said Arvind Sodhani, President, Intel Capital and Vice-President, Intel Executive.

These investments will help drive innovation in the fast-growing e-commerce and distribution industries. Growth in Asia’s middle-class, overall expansion of its economy and ever improving internet connectivity in the region has given rise to a considerable online retail market opportunity for these firms.

Prashant Tandon and Sameer Maheshwari, Co-Founders, Bright Lifecare Pvt Ltd said, “We are glad to have a leading venture capitalist like Intel Capital as our investor as we gear for the next level of growth. The strong and stable capital support, a strong track record and ability to work with a company through multiple stages of its lifecycle were key determinants of our choice to partner with Intel Capital.”

“We see start-up companies across Asia-Pacific taking advantage of new business opportunities created by the spread of personal computing and broadband Internet access. These technologies allow entrepreneurs to reach new markets and customers, and offer innovative new services that will help to enrich the lives of people across Asia,” said Gregory Bryant, vice-president and general manager, Intel Asia-Pacific.

Intel Capital has so far invested over $320 million in 80+ companies across 10 cities in India. Out of these over 20 companies have gone public.

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