Intel Capital, the corporate venturing unit of semiconductor chip manufacturer Intel has invested $28m in five China-based internet of things hardware companies through its $100m China Smart Device Innovation fund.
The fund, Intel’s third China-focused fund, was founded in April to encourage the development of smart device hardware, software and component companies in the country. It is interested in companies developing wearable and internet of things-based technology.
The companies, which received the capital as part of series A and B rounds, are:
Eyesmart Technology, a producer of iris recognition technology;
LeWa Technology, a mobile internet company focused on the android operating system;
Shenzhen Fibocom Industrial Development, a provider of location-based communications services;
Shanghai Ailiao Information Technology, which provides mobile gaming communication services; and
Guangdong Appscomm Digital Technology, a developer of wearable device technology.
Arvind Sodhani, president of Intel Capital, said: “These innovative companies will help lead to a new wave of product development in China in smartphones, tablets, wearables and the internet of things”.
Intel’s two other funds for the Chinese market are the $200m Technology Fund, formed in 2005, and the $500m Technology Fund II, founded in 2008.