Intel Capital, the corporate venturing unit operated by semiconductor manufacturer Intel, has made investments in two China-based companies, Cloud Union and Fashion Republic, according to information released by Intel on Thursday.
The amount invested by Intel in each company has not been disclosed but the funding came from the Intel Capital China Technology Fund II, a $500m fund established by Intel in 2008 in order to develop hardware, software and services that complement Intel’s own initiatives.
Cloud Union designs, develops and operates cloud gaming platforms across a range of devices, utilising 3D graphics and rich audio. Fashion Republic meanwhile operates a fashion content aggregator, incorporating a search engine for fashion photographs.
Both firms will use the financing for product development and to expand the market for their products.
Arvind Sodhani, president of Intel Capital, said: "Pioneering new technology usage models for consumers is critical for innovative technology companies around the world and is a major focus of Intel Capital’s investment efforts in China. Cloud Union and Fashion Republic, both of which have built a strong and unique Internet user experience, are a central part of our efforts to drive innovation that enhances and expands the online experience for the 15 billion devices expected to be connected by 2015."
Ian Yang, president of Intel China, added, "China has a huge consumer base. As more and more computing devices connect to the Internet, the ability to provide end users with innovative and unique experiences will be the key to the success in this market. We believe Intel’s continuous investment in digital media and consumer internet has helped to make Intel architecture based devices the best equipped to provide consumers with the most compelling computing experiences."
Intel calculates that it has invested more than $650m in China since its first venture there in 1998, including $90m invested in 13 companies in 2011.