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Intel Capital invests US$28 Million in China on IoT

| October 24, 2014

INTEL M2M IOT

Intel Capital Announces Investments of US$28 Million from China Smart Device Innovation Fund

Fund’s first investments to accelerate innovations in smartphones, tablets, wearables and IoT in China

Beijing, October 21, 2014 – Intel Capital, Intel’s global investment organization, announced today that the Intel Capital China Smart Device Innovation Fund has released its first investments totaling approximately US$28 million in several Chinese companies. The investments demonstrate Intel’s commitment to fostering Chinese technology innovation and accelerating China Technology Ecosystem (CTE) development in smartphones, tablets, wearable devices and the Internet of Things (IoT) market.

Intel CEO Krzanich introduces Intel's Edison, a new personal computer in the size of an SD card, during the annual Consumer Electronics Show (CES) in Las Vegas, Nevada

“We would like to congratulate these companies on receiving investments from the Intel Capital China Smart Device Innovation Fund,” said Arvind Sodhani, Executive Vice President of Intel Corporation and President of Intel Capital. “Investments from the fund are earmarked to help drive smart device innovation in China and beyond. These innovative companies will help lead to a new wave of product development in China in smartphones, tablets, wearables and the Internet of things.”

“Smart and connected devices represent some of the most exciting new areas in technology, and with China maintaining one of the world’s most robust technology ecosystems these technologies are poised for dynamic growth,” said Ian Yang, Intel Corporate Vice President and President of Intel China. “We believe Intel’s long-term commitment to and continuous investment in China will accelerate the growth of the China technology ecosystem and help bring profound changes to the ICT industry, both within China and globally.”

The companies which have received or will receive (subject to satisfaction of closing conditions) investment from the Intel Capital China Smart Device Innovation Fund include:

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• EyeSmart Technology Ltd. (EyeSmart), develops professional, low cost and end-use friendly iris recognition solutions based on cutting-edge iris recognition technologies. With its strong R&D, EyeSmart has transformed traditional iris recognition technologies and products into iris-based solutions and usage models for mobile terminals, smart homes, smart wearables, smart mobile payments, smart cars, smart education, mini iris hardware as well as the first “EyeCloud.” EyeSmart offers convenient, fast and reliable iris recognition in conditions and scenarios where users typically use smartphones, tablets and PC devices, enabling users to become their own passwords for their smart devices.
• Shanghai Ailiao Information Technology Ltd. (Gotye), the first communications service company to provide professional mobile communication solutions and services for mobile games and applications in China. Gotye is committed to providing developers with embedded communication functions, helping them create solutions for smart devices including smartphones and tablets.
• Shenzhen Fibocom Industrial Development Ltd. (Fibocom), a professional IoT and mobile internet communications and location-based services (LBS) solutions provider which offers GNSS/GPS solutions/modules to telematics OEMs. The company independently designs, develops and manufactures FIBOCOM GSM/GPRS, WCDMA/HSPA+, LTE wireless communication modules and GPS, OBD modules, which can be applied for passenger and business vehicles.
• Guangdong Appscomm Digital Technology Ltd. (Appscomm), a high-tech company that focuses on smart wearable devices and cloud-based applications. Its smart watch business covers three major segments including smart elder care, health management, and fashion and sports.
• LeWa Technology (Shanghai) Co. Ltd. (LeWa), a leading mobile internet company specializing in customized Android operating systems. LeWa is the largest third-party OS provider in China. LeWa OS, its flagship product, provides the ultimate smart mobile device experience to Chinese users.

The US$100 million Intel Capital China Smart Device Innovation Fund, established earlier this year and announced by Intel CEO Brian Krzanich at the annual Intel Developer Forum (IDF) in Shenzhen, aims to provide capital to Chinese companies focused on accelerating innovation of smart devices, including tablets, smart phones, PCs, 2in1s, wearables, the Internet of Things, and other related technologies in China. The Intel Capital China Smart Device Innovation Fund is Intel Capital’s third fund for China, including the US$200 million Intel Capital Technology Fund and the US$500 million Intel Capital Technology Fund II, which were established in 2005 and 2008, respectively.

Intel Capital started investing in China in 1998. Since then, it has invested over US$700 million in more than 120 Chinese technology companies. Hong Rao is the investment manager for Gotye and Appscomm; XiaoGuang Sun is the investment manager for LeWa; Helen Chiu is the investment manager for EyeSmart; and Tony Kwan is the investment manager for Fibocom. Intel Capital’s investment focus areas in China include smartphones, tablets, Internet of Things, connected car, wearable devices and cloud infrastructure and services.

– End –

MEDIA CONTACTS:

John Mandeville
+852-6019-1896
john.mandeville@intel.com

Ogilvy Public Relations
Derek Mitchell
+65-6213-7929
derek.mitchell@ogilvy.com

 

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