Intel Capital has invested an undisclosed sum in Indian media company July Systems, which develops cross-platform mobile content applications for broadcasters such as ESPN, CBS, NBA, Turner Broadcasting, Disney, HT Media and Network 18.
Intel Capital, with Sequoia Capital and Footprint Ventures, led a round of series-C funding for July Systems in July 2010, which raised US$7 million. This follow on funding will now be invested by July Systems in technology, operations and team expansion, according to a report from Media Nama.
As well as building, managing, marketing and monetizing mobile applications on the Mi platform, July Systems has also negotiated exclusive rights to the M.IPLT20.com portal - the official site for the prestigious Indian Premier League twenty 20 cricket competition on mobile phones.
The company had developed the industryís first mobile 3.0 publishing platform, which initially caught the eye of Intelís global investment arm.
This latest investment forms part of a $18 million cash injection by Intel Capital into a number of Indian technology companies, which include follow on investments in online travel operator Yatra.com and enterprise application firm WSO2, as well as in new ventures PolicyBazzare and SSARSC.
Intel Capitalís India Technology Fund was established in December 2005 to invest in Indian technology companies to stimulate local innovation and the continued growth of India's information technology industry.