Intel creates US$100m AppUp fund – invests in 12 companies
Intel Capital has unveiled a US$100m Intel Capital AppUp Fund which will target companies developing apps and digital content for multiple devices. So far US$45m worth of investments have been made in 12 companies.
The fund will invest in software tools and services companies developing innovative applications and digital content for the mobile and PC ecosystem available at the Intel AppUp centre, Intel's app store for netbooks, consumer laptops and ultrabooks.
The initial two investments include Urban Airship, a mobile platform-as-a-service company and 4tiitoo, a German OSV and tablet device developer. The announcement was made at the 12th annual Intel Capital Global Summit.
Oregan-based Urban Airship aims to make mobile marketing engaging, effective and efficient. Publishers and developers use Urban Airship's platform to reach target audiences and increase app revenue streams through push notifications, in-app purchasing, subscriptions, context and geo-location. This enables developers to build a new class of apps that are smarter, more context-rich and more valuable to consumers.
German company 4tiitoo specialises in the development of open source based software solutions across all system layers from kernel development up to application development. 4tiitoo's “WeTab OS” is optimised for tablets and mobile devices combining intuitive user experience with lifestyle design and supports Linux, Java, HTML5 to Adobe AIR, Adobe Flash and Android-based apps.
The AppUp is one of a number of funds that Intel Capital has created to spur on technology development on the Intel platform. These efforts include the US$300 million Intel Capital Ultrabook Fund.
“The explosion of connected computing devices has created tremendous opportunity for entrepreneurs to create and build businesses to meet the unprecedented demand for new and innovative computing applications and digital content,” said Arvind Sodhani, president of Intel Capital and Intel executive vice president.
“The Intel Capital AppUp Fund will help encourage the creation of companies interested in delivering or enabling applications that enhance and extend the online experience for the 15 billion devices expected to be connected by 2015.”
The fund will invest in companies producing infrastructure, middleware, innovative applications and digital content across the continuum of connected devices in application developer-centric equity deals all over the world.
While the investments will focus across multiple technologies and devices, key areas include cross-platform technologies such as HTML5, as well as experiences designed specifically for ultrabooks.
“The Intel Capital AppUp Fund further demonstrates Intel’s support of the mobile market segment, and creating exciting apps and digital content for Intel architecture is at the center of our AppUp efforts,” said Renée James, Intel senior vice president and general manager of the Software and Services Group.
“The fund provides us with a great opportunity to continue innovating, while also engaging with some of the most promising companies to help drive future software technology.”
At the Global Summit Intel Capital also announced 10 new and planned investments in Asia. The companies include India’s Happiest Minds Technologies and TELiBrahma; China’s Outblaze Venture Holdings, Miartech and MakePolo.com; South Korea’s Neosem; Taiwan’s SNSplus and Insyde Software; and Japan’s OneBe and G-cluster. In total, Intel Capital has announced US$45 million in new investments at the 2011 Global Summit.