Intel Capital invests $72M in 12 AI, IoT, cloud and silicon startups

Intel Capital, the venture capital and investment arm of semiconductor giant Intel, on Tuesday used its annual global summit to announce $72 million in new funding for12 tech startups — an amount that brings Intel Capital’s investments to $115 million so far this year.

Intel Capital said the investments in 12 companies include financing for startups involved in artificial intelligence, cloud computing and services, the internet of things and silicon-based technologies.

“These are critical areas of technology as the world becomes increasingly connected and smart,” said Wendell Brooks, Intel senior vice president, and president of Intel Capital, in a statement announcing the new funding arrangements.

Among the companies Intel Capital said it is investing in are Avaamo, a Los Altos-based company doing artificial intelligence technology for conversational computing among businesses; VenueNext, of Santa Clara, which builds smart-venue tech platforms for sports arenas, concert halls, hotels and hospitals so that guests can use smarphones to get better and easier access to those locations’ services; and San Jose-based Movellus, a semiconductor developer that builds technology to improve how analog circuits are created and placed on chips.

Other notable news from the event included a new deal between the NBA and Intel Capital to work on more collaborations in delivering sports content, an area where Intel has already been working for years; and the news that Intel has now invested $125 million in startups headed by minorities, women and other under-represented groups as part of its Diversity Initiative. The mark was reached 2.5 years ahead of schedule, it said.

With this latest round of funding, Intel Capital said it has invested more than $12.3 billion in more than 1,500 companies since 1991.

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