Intel, 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.
“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.”