Intel Capital announces new investments
Announcement was made at the World Economic Forum on Mena region
Intel Capital, Intel Corporation's global investment organisation has announced three new investments at the World Economic Forum on the Middle East and North Africa.
The company provided a second financial boost to Jordan-based online networking site Jeeran and web-based entertainment guide ShooFeeTV, both of which were first funded by Intel Capital in May 2009.
The company will also be expanding its investment portfolio in the region with the addition of United Kingdom and Lebanon-based Nymgo (VOIP telephony services). This brings the company's total investments in the Middle East region to eight.
"These investments highlight the innovative thinking and potential in the Middle East and we are excited about the on-going development and the regions evolving technology landscape," said Arvind Sodhani, president of Intel Capital and Intel executive vice president. "We fully support and believe in prospects for the Middle East and look forward to supporting these companies in their growth in the coming years."
The announcement of these investments comes on the fifth anniversary of the Digital Transformation Initiative, which promises to aid socio-economic development in the Middle East.