Intel Invests $27M in Wireless Startups
Intel's investment arm has pumped $27 million into three wireless technology startups: Layar, YuMe and Ortiva Wireless.
The investments were part of Intel Capital's $77 million investment in 18 tech companies from around the world, including China, Germany, India and the United States, the company said at its annual CEO summit.
Intel uses its significant financial resources to spur development in its core PC and server markets, as well as adjacent areas of interest such as smart television, tablet computers and smartphones.
Layar will use the $14 million in funding from Intel and existing investors Sunstone Capital and Prime Ventures to develop its augmented reality platform, which is available on Android, iPhone and Bada devices.
Ortiva Wireless, which provides technology to help operators manage mobile video traffic, received $8 million in Series C funding in a financing round led by Intel Capital, with full participation from current investors Comcast Interactive Capital, Artiman Ventures, and Mission Ventures. Ortiva will use the funds to expand its sales, marketing and engineering resources.
YuMe reaches more than 90 million unique viewers per month through online and mobile channels. The company did not specify how much financing it received from Intel Capital in its announcement, but TechCrunch reports the amount as $5 million.