Intel injects new investments to eight Chinese startups in the robotics, data and cloud sectors. (Photo : Reuters)
Technology giant Intel Corp. has invested $67 million in eight Chinese robotics, cloud and data startups as part of its efforts to boost emerging sectors.
Less than a month earlier, the U.S.-based multinational has also poured in over $60 million into Yuneec International Co. Ltd., a Shanghai-headquartered drone maker.
So far this year, 12 Chinese firms have received investment injections from Intel. This includes the roughly $1 billion investment in a Tsinghua Unigroup-owned mobile chipset subsidiary.
According to reports, the U.S. company has invested around $2 billion into over 140 China-based companies since 1998.
Intel's China president Ian Yang cited the increasing demand for innovation, specifically in consumer electronics, has helped drive the investments into the Chinese startups.
"The growing spirit of grassroots innovation in the country is likely to present more investment opportunities," Yang stated.
Moreover, a statement from the firm details that their latest investments in China, which is now touted as the world's second largest electronics market, will focus on data analytics, visual reality, smart devices, drones and the Internet of Things.
Nonetheless, Intel authorities did not disclose the size of the investment in each firm.
Among the recipients of Intel's latest round of investments include Ninebot Inc., a short-distance personal electric-vehicle maker based in Tianjin, and Nuovo Film Inc., a Suzhou-based maker of nano touch films used in smartphones and tablets.
Analysts note that the U.S. firm is getting backing from Chinese hardware makers to advance its plan to expand its presence in China's mobile chip market, which is currently led by ARM-based sellers like Qualcomm Inc.
