“We’re on track to invest more than $500min startups in 2015,” said Wendell Brooks, the company’s incoming president. “Together with another robust group of exits, we’re poised for one of the organisation’s strongest years ever.”
Intel is part of a $3.5m funding round closed by London based what3words. The company is developing a platform that allows people to find and communicate locations more accurately, particularly in areas where postcodes are not used. Essentially, it has divided the world into 3 x 3m squares – and there are 57trillion of them. Each is identified by three words, which the company says is an easier way to remember locations. The New Electronics office, for example, can be found at sprint.vent.shovels.
Another London based company, Chargifi, has received backing from Intel as part of a $2.7m funding round. The cash will help the company to develop its wireless charging network approach, which is being deployed in sites ranging from coffee shops to airports. Chargifi Spots are said to form an intelligent network, providing access to power for mobile devices.
"What sets Intel Capital apart is the way our global network drives innovation across the technology spectrum,” said Arvind Sodhani, outgoing president of Intel Capital. “I’m proud to say we’ve built Intel Capital into one of the largest, most successful and most influential venture investment groups on the planet.”