Intel Capital, Intel Corporation’s global investment and M&A organisation, has made three investments in e-commerce firms seeking to scale up and extend their businesses in Asia, the corporate venturing unit reported from the World Economic Forum held in Myanmar.
The investments, totaling approximately $16m, are: India’s Bright Lifecare, a distributor of nutrition, health and wellness products; Snapdeal.com, a consumer goods marketplace in India; and existing portfolio company Singapore’s Reebonz.com, one of Asia’s largest private luxury goods retailers.
Arvind Sodhani, president of Intel Capital and Intel executive vice-president said of the investments: “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.”
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, said Intel Capital.
India-based Bright Lifecare is a premier consumer health company that distributes nutrition and health products covering health issues such as diabetes, home devices, eyecare and personal care. The business also operates India’s most followed e-pharmacy network (HealthKartPlus). “It is well positioned to lead disruption in the consumer healthcare space in India through innovate mobile applications and web products,” said Intel Capital.
India-based Snapdeal.com, one of the largest online marketplaces in the Asian country, attracted Intel Capital because its site features the widest assortment of products across all categories including fashion, electronics, home goods, among others. Thousands of small businesses, brands and retailers are leveraging Snapdeal’s reach of 20 million registered users to deliver their products across 4000+ towns and cities of India, according to Intel Capital.
Singapore-based Reebonz.com, one of one of the largest private sales ecommerce groups in Asia, is already an Intel Capital investee company. The company 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. Following the investment, the company launched Reebonz Vintage, a marketplace for pre-owned luxury goods, and Kwerkee.com, which sources and sells unique products from the best designers in the world.