Intel Corporation’s global investment and M&A organization, Intel Capital has invested around $16 million in three Asian e-commerce firms which includes Indian firms Bright Lifecare and Snapdeal, the company said.
The two Indian investments, in Snapdeal and Bright Lifecare which runs HealthKart, were made two months ago with other investors. The third company is Singapore’s Reebonz.com,a private luxury goods retailers, an already existing portfolio company of Intel Capital. Intel Capital first invested in the company in 2012.
The announcement was made at the World Economic Forum in Nay Pyi Taw, Myanmar.
Bright Lifecare is a distributor of nutrition, health and wellness products while Snapdeal.com is a consumer goods marketplace in India. Bright Lifecare also operates e-pharmacy network, HealthKartPlus. Snapdeal’s has a reach of 20 million registered users and delivers to nearly 4000+ towns and cities of India. Intel has co-invested in Snapdeal in a $50 million round with eBay and other investors. The HealthKartPlus investment was also made two months ago in which Intel Capital invested $14 million alongside Sequoia Capital.
The investment directors for these investments are: Pradeep Tagare (Mumbai) for Bright Lifecare, Mahesh Vaidya (New Delhi) for Snapdeal.com and Deepak Natarajan (Singapore) for Reebonz.com.
Intel hopes that these investments will help drive innovation in the fast-growing e-commerce and distribution industries.
Intel Capital has investments in 26 countries and in In 2012, it invested US$352 million in 150 investments globally, with approximately 57% of funds invested outside North America. Intel Capital which started investing in Asia Pacific in 1998, has till now invested over $2 billion in more than 320 technology companies across the region. Over 60 of these companies have gone public or have been acquired.
In India, Intel Capital has invested over $320 million in 80+ companies across 10 cities, since 1998. Last year, Intel Capital invested in 6 companies: Hungama.com, Yatra.com, July Systems, Tejas Networks, WSO2 Inc. and Saankhya Labs.