Intel Capital, the global investment and M&A organization of Intel Corporation, has recently announced that it has invested $16 million across Asia in ecommerce segment which include two Indian companies i.e. Bright Lifecare which runs Healthkart.com, Snapdeal.com and its existing portfolio company Reebonz.com from Singapore.
Intel had participated in the Series B funding round of Healthkart with Sequoia, where Healthkart had raised USD 14 million, Intel Capital is supposed to put around USD 8 Mn in the round.
Also in May this year, with Media Corp Intel had invested USD 40 million in Reeboonz.
Later it had participated in the Series D funding round in Snapdeal with ru-Net, Saama capital, and eBay Inc., where details of the share of investment is not clear. But we believe it has gone beyond the original investment of $50 mn led by ebay in a recent previous round, with eBay leading both the rounds to become a majority stake owner in the firm. Though Snapdeal is still silent on the media claims as of now.
Intel Capital with these investment will definitely not only provide financial investment but will also add value of its global network. “These three exciting and innovative companies are delivering new e-Commerce experiences to an ever-increasing customer base throughout Asia. We look forward to helping them grow and succeed through our resources and their passion,” said Arvind Sodhani, president of Intel Capital and Intel executive vice-president.
Reebonz.com is a Singapore based private sales ecommerce group in Asia. It sells luxury goods, including fashion items such as handbags and accessories, to customers across Southeast Asia, North Asia and Australia. Intel Capital first invested in the company in 2012.
The investment directors for these investments are Pradeep Tagare (Mumbai), Mahesh Vaidya (New Delhi) and Deepak Natarajan (Singapore).
Intel Capital has started investing in Asia-Pacific companies in 1998 and since then it has invested over $2 billion in more than 320 technology companies in the region and 60 of these companies have gone public or have been acquired.
Fashionandyou, Policybazaar.com, Hungama.com, Indiamart.com, 123Greetings, Yatra.com are Intel’s few other portfolio companies in India.