Intel Capital, Intel Corporation’s venture investment business, has announced an investment in three Dubai-based technology companies, Conservus International, Pulse Technologies and Ve
Intel Capital, Intel Corporation’s venture investment business, has announced an investment in three Dubai-based technology companies, Conservus International, Pulse Technologies and Vertex Animation Studio.
The funding comes from the USD50m Intel Capital Middle East and Turkey Fund, which invests in companies developing hardware, software, local content, and services throughout the region.
The funding will assist the companies in pursuing regional growth and development plans in addition to extending their product offerings. Intel Capital led all three investments; the amount of each investment was not disclosed.
"Intel Capital is committed to investing in local companies and encouraging entrepreneurship in technology in the Middle East to help provide communities with useful technology platforms," says Arvind Sodhani, president of Intel Capital and executive vice-president of Intel (pictured).
"The Middle East is home to a great deal of talent and innovation. We look forward to collaborating with these dynamic companies and helping them take the necessary steps towards global competitiveness."
Conservus is an IT/media marketing company responsible for the conceptualisation, design and development of a digital targeted advertising medium known as the MyConservus Portal, an e-concierge platform which highlights services available at a single location and provides advertisers with direct access to potential consumers.
Pulse is a manufacturer of home and hotel room automation systems designed for large-scale deployment, specifically catering to property and hotel developers across the Middle East, Southeast Asia and Europe.
Located in Dubai Studio City, Vertex Studios was established to provide services in the fields of animation, virtual reality applications and 3D multiplatform games, delivered to the audience in high definition online or through traditional media such as DVD and Blue-Ray.
The investments in these local firms follows the announcement in November 2008 of Intel Capital’s investment in UAE-based Sphere Networks, an emerging national software development firm specialising in enterprise management, in which Dubai Silicon Oasis is also a shareholder.
"As a key player in the IT industry, Intel has an important role to play in helping grow and shape the Information and Communication Technology ecosystem across the region," says Feroz Sanaulla, regional director of Intel Capital in the Middle East, Turkey and Africa. ‘The Middle East is an important market and we believe that by working with local IT firms we will help these companies contribute towards the region’s overall economic development, in addition to aiding the creation of a knowledge-based economy.’
