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Intel Capital Invests $17M In, BuzzInTown And An OOH Firm

Intel (NSDQ: INTC) Capital, the venture capital arm of chipmaker Intel, has announced that it would invest $17 million into three Indian companies – which includes travel portal, events-oriented social networking portal, and Emnet Samsara Media Pvt. Ltd., an out-of-home advertising firm focusing on the Indian public transportation market. How much has gone into each company is not not known yet. CEO and founder Dhruv Shringi told VC Circle that this is the third round of investment in the company. He, however, declined to reveal the quantum of the investment. The first two rounds of investments were done by Norwest Venture Partners, Reliance Technology Ventures and TV18 Group.
In the case of BuzzInTown, a community oriented site which helps users discover local events in major Indian cities, this could be Series A.
Emnet Samsara Media Pvt. Ltd, an OOH media company targeted at public transportation company, joins a list of OOH media companies such as Laqshya, LiveMedia, and DSN that got funded by venture capital firms.

Since starting in India in 1998, Intel Capital has invested in approximately 50 companies across eight cities.

This story was provided by our content partner VCCircle