Tag: Intel Capital

Intel Capital Invests In Three Middle East Companies: Nymgo, Jeeran And ShooFeeTV

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The World Economic Forum in Marrakech yesterday witnessed some really interesting news from Intel Capital, which announced 3 new investments in the Middle East; UK-Lebanon based Nymgo, as well as Jordanian companies Jeeran and ShooFeeTV.

This investment marks a second round of investment from Intel Capital in both Jeeran and ShooFeeTV (both also IV Holdings portfolio companies), after the previous investment that was announced in May of last year.

The investment in Nymgo also marks Intel Capital’s expansion of its portfolio in the Arab world to a total of eight companies: Nymgo, Jeeran, ShooFeeTV, Conservus, Pulse Technologies, Vertex Animation Studio, NeuString and Sphere Networks.

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UAE Based NeuString Receives Investment From Intel Capital

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NeuStringIntel Capital, Intel Corporation’s global investment arm, earlier announced an investment in NeuString, a leading UAE-based telecommunications analyst software company, further reaffirming Intel Capital’s commitment to investing in the region.

The funding from Intel Capital is to assist NeuString in pursuing regional growth and development plans in addition to extending the company’s product offerings.

NeuString is a billing software company dedicated to delivering predictive analytics solutions and consulting services to mobile network operators to help them achieve greater financial performance.

NeuString currently has offices in the United Arab Emirates, Denmark, Russia, and Ukraine.

The investment in NeuString follows five previous Intel Capital investments in the Middle East this year: two Jordan-based digital content companies − Jeeran and ShooFeeTV; and three UAE-based technology companies – Conservus International FZ-LLC, Pulse Technologies FZ-LLC, and Vertex Animation Studio FZ-LLC.

As has become customary in this part of the world, for some unclear reason, the amount of this investment was yet again not disclosed.

Under the Intel Capital program, Intel plans to continue supporting local entrepreneurship in the Middle East through its investments in education, digital accessibility and specialized technical competencies. The purpose being to help promote technology skills, knowledge transfer and job creation in the region.

UAE Based Startup Sphere Networks To Be Acquired By Major Taiwanese Manufacturer

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Sphere NetworksSphere Networks is currently in acquisition talks with a major Taiwanese manufacturer to sell off the majority of the company, including the intellectual property rights to its network management software technology, supporting research and development team.

Sphere Networks is a developer of enterprise-level network management solutions, that allow organizations to monitor and control thousands of nodes at any one time.

The name of the acquiring company hasn’t been disclosed, but Mohamed Hamedi, CEO and founder of Sphere Networks said that the potential buyer is “the largest OEM hardware manufacturer for networking equipment” in Taiwan. It produces switches, routers, access points and similar products mainly for other vendors, but now wants to start shifting to producing its own-brand products.

After the official announcement Sphere Networks will be fully folded into the acquiring company, including its IP, technology and supporting technical team of 20 employees. It is expected that staff working in sales and human resources will be cut as a result of the process though.

The company was launched in 2005 by Mohamed Hamedi, a Libyan national who moved from the US to Dubai to start the company and personally bankrolled it, until Dubai Silicon Oasis Authority invested in the startup in 2006, and then another investment by Intel Capital followed in 2008. The values of both of those investments were not disclosed.

As part of an earn out agreement, Hamedi should continue to work with Sphere Networks for up to 18 months following the deal.

[Source: ITP]

Int@j Introduces 20 Jordanian ICT Companies to Intel Capital

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Int@j, the Information Technology Association of Jordan, recently conducted an event with Intel Capital, the venture capital investment arm of Intel Corporation, including more than 20 companies from the ICT community in Jordan.

The event focused on introducing the Jordanian ICT sector to Intel Capital and sharing various business aspects and relations among the various ICT sector companies and Intel.

Since its establishment as an ICT industry-support association in 2000, Int@j has been exerting a lot of efforts aiming at advancing the Jordanian ICT sector. Int@j has been looking for various partnerships with different institutions on the local, regional and international levels aiming at creating better ICT industry in Jordan, increasing the awareness of ICT services and products and stressing on the benefits of integrating ICT in other sectors.

The meeting included one-to-one presentations by member companies of int@j where they presented their plans, products, services and solutions to Intel Capital focusing on local capabilities, companies’ talented resources and value added services blended together towards positioning Jordan as the regional ICT leader and point of access.

Intel Capital has been quite active in the region lately, as part of its ongoing push to support local entrepreneurship in the Middle East and fund companies in the internet and technology sectors through its $50 million Intel Capital Middle East and Turkey Fund, which is aimed at assisting the companies in pursuing regional growth and development plans in addition to extending their product offerings.

Feroz Sanaulla, Intel Capital’s Director of Middle East, Turkey, and Africa said “’Intel Capital has a history of pioneering successful technology investments in developing markets to foster growth and innovation. We believe Jordanian ICT companies are well positioned in the region and we are keen on helping them drive technology adoption locally and identify new business opportunities globally.”

Intel Capital Invests In Two Jordanian Companies Jeeran And ShooFeeTV

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In a joint press conference today in Amman, Jordan, Intel Capital‘s latest investments in the Arab internet scene were announced.

These new investments from Intel Capital are in Jordanian internet companies Jeeran, one of the leading user generated content portals in the Arab world, and ShooFeeTV, a free online Arabic television guide. Both companies are also IV Holdings portfolio companies.

This comes among Intel Capital’s ongoing push in the region, supporting local entrepreneurship in the Middle East and funding companies in the internet and technology sectors through its $50 million Intel Capital Middle East and Turkey Fund, which is aimed to assist the companies in pursuing regional growth and development plans in addition to extending their product offerings.

Under the umbrella of this fund, Intel continues to increase its investment in four key areas: local entrepreneurship, education, digital accessibility and specialized technical competencies, to help promote technology skills, knowledge transfer and jobs creation.

As has become custom for most such investments in the Arab world, the size of these investments has not been disclosed.

Conservus International Wins Red Herring 100 Europe Award

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ConservusRed Herring recently announced that Conservus International was named a winner of the Red Herring 100 Europe, an award given to the top 100 private technology companies based in the EMEA (Europe, Middle East and Africa) region each year.

Conservus International is responsible for the conceptualization, design and development of a digital targeted advertising medium known as the MyConservus Portal.

The MyConservus Portal is an e-concierge service which highlights services available at a single location and provides advertisers with direct access to potential consumers while generating revenue from these advertisements.

Conservus International has similar e-concierge portals that can be used in the Hospitality, Business and Community sectors, and seeks to expand the MyConservus portal’s reach internationally by entering into potential franchise discussions with technology companies.

Conservus was one of the three UAE based technology companies that got an investment from Intel Capital earlier this year, and are also an IV Holdings portfolio company.

Red Herring’s lists of top private companies are an important part of the publication’s tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay, and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work.

Intel To Invest In Three UAE Based Technology Companies

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IntelIntel, the world’s largest maker of computer chips, announced it will be investing in three UAE-based technology companies.

The funding will come from the $50 million Intel Capital Middle East and Turkey Fund, and is aimed to assist the companies in pursuing regional growth and development plans in addition to extending their product offerings. 

The three companies that will be benefiting from Intel Capital’s investment are as follows:

  • Conservus International FZ-LLC: An IT/Media marketing company that is responsible for the conceptualization, design and development of a revolutionary digital targeted advertising medium known as MyConservus Portal. (Conservus is also an IV Holdings portfolio company)
  • Pulse Technologies FZ-LLC: A leading manufacturer of building automation systems, specifically catering to property and hotel developers across the Middle East, Southeast Asia and Europe.
  • Vertex Animation Studio FZ-LLC: A cutting edge technology firm focused on providing world-class services in the field of animation, virtual reality applications and 3D multiplatform games via a multitude of technological platforms.

The size of the investments was not disclosed.

Under the Intel Capital program, Intel plans to continue supporting local entrepreneurship in the Middle East through its investments in education, digital accessibility and specialized technical competencies.

“We have a strong pipeline for future investments in the region,” Feroz Sanaulla, director of Intel Capital’s Middle East, Turkey and Africa division, said during a press conference. “Several hundred million dollars have been deployed in the region, and you will see more in the next few months.”

Intel Capital Invests In Dubai-Based Startup Sphere Networks

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Sphere NetworksIntel Capital, Intel’s investment arm, joined Dubai Silicon Oasis (DSO) by announcing its investment in Sphere Networks, an emerging Dubai-based startup specialising in next generation network management software. This move marks Intel’s first investment in a company based in the Gulf region.

The investment should help Sphere to expand both its technology base, get access to Intel technologies and develop sales and marketing to deliver its products to market. The amount of the investment was not disclosed.

The startup employs a team of 26 people, from different backgrounds, in Dubai; developing enterprise level network management solutions, which are already in use with a number of government customers in the region. 

The investment, announced today by Christian Morales, Intel VP Sales & Marketing and General Manager, Europe Middle East and Africa, is part of Intel’s drive to expand its economic, educational and technology-related support across the UAE. 

Under this program, Intel continues to increase its investment in four key areas: local entrepreneurship, education, digital accessibility and specialized technical competencies, to help promote technology skills, knowledge transfer and jobs creation in the UAE. 

Commenting on the announcement, Morales underlined the importance of fostering innovative, home-grown ideas and noted that today’s news illustrates Intel’s ongoing commitment to collaborate with local players that share the vision of taking entrepreneurial projects to the next level of global competitiveness. 

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