Gulf is not exactly a hub of technology innovation. Nevertheless, Intel Capital is spotting opportunities there. The investment arm of the chipmaker Intel has invested in three companies based in the United Arab Emirates.
They are IT/Media marketing company Conservus International, manufacturer of building automation systems Pulse Technologies and animation studio Vertex Animation Studio. Intel Capital led all three investments, while the amount of each investment was not disclosed.
The venture capital firm has invested from its $50 million Intel Capital Middle East and Turkey Fund. The announcement of this transaction coincides with the visit of Paul Otellini, CEO, Intel Capital, to the Gulf region.
This is not the first time Intel Capital investing in the region. In October 2008, Intel Capital made its first investment in a Gulf company, with the purchase of a minority stake in the UAE’s Sphere Networks.
In March last year, ePlanet Ventures invested in FRiENDi Mobile, a Dubai based mobile virtual network operator.