During last week’s Intel Capital Global Summit that gathered 1,000 venture capitalists, entrepreneurs, and tech executives in Palm Desert, California, Intel Capital selected 12 technology startups to receive new investments totaling $72 million, bringing YTD total investments to more than $115 million. In addition, the company used the occasion to make announcements about their initiatives in diversity and sports technology.
The twelve newly funded startups reside on the cutting edge of their fields that includes AI, IoT, cloud computing, and silicon. Intel Capital’s president and Intel’s senior vice president, Wendell Brooks, said that the new investments reflect Intel’s leadership in data and their strategy to make larger investments in their new portfolio companies.
“Whether through access to Intel technology, introductions to our worldwide partners or added engineering resources, we’re focused on driving new levels of success for our entrepreneurs,” Brooks stated.
The twelve startups by tech field are:
- Aavamo, Los Altos, California
- Fictiv, San Francisco, California
- Gamalon, Cambridge, Massachusetts
- Reconova, Xiamen, China
- Syntiant, Invine, California
IoT and cloud computing:
- Alauda, Beijing, China
- CloudGenix, San Jose, California
- Espressif Systems, Shanghai, China
- Venue Next, Santa Clara, California
- Lyncean Technologies, Fremont, California
- Movellus, San Jose, California
- SiFive, San Mateo, California
The Summit also served as a platform for Intel Capital to tout the progress being made in three key initiatives:
- The NBA and Intel Capital announced their recently formed collaboration called the “NBA + Intel Capital Emerging Technology Initiative.” The sports and entertainment technology innovation collaboration will foster the identification, formation and growth of technology companies with the potential to disrupt the NBA, sports and entertainment in the future.
- Intel Capital announced that it has moved past its 2015 goal to invest $125 million in startups run by women and underrepresented minorities. Its’ global Diversity Initiative supports ventures founded and/or led by women and entrepreneurs living with disabilities, and U.S. companies founded and/or led by underrepresented minorities, members of the LGBTQ community and U.S. military veterans.
The investment goal was reached two and a half years ahead of schedule and in 2017 two-thirds of the dollars Intel Capital invested in diverse startups were made outside the United States.
A new “Champions of Change” strategy was launched by 15 technology companies who committed to advance gender equality by promoting women’s careers in the global tech industry. The strategy was made by the Male Champions of Change Institute*, accelerateHER, EQUALS and Intel, a founding member of the Male Champions of Change Global Technology Group