Intel’s global investment wing, Intel Capital, has announced a number of major investments in Chinese tech companies, according to a new China Money Network article. The investments amount to a sum of $28 million and will cover a range of technological fields including mobile devices, wearable tech, the Internet of Things, and biometrics.
This is the product of the Intel Capital China Smart Device Innovation Fund, which was set up in April of this year and succeeds the previous Intel Capital Technology Funds from 2008 and 2005. Explaining the investment fund, Intel China president Ian Yang explained that smart and connected IT devices are part of a booming technological trend, “and with China maintaining one of the world’s most robust technology ecosystems these technologies are poised for dynamic growth.”
Among the companies receiving the funds are Guangdong Appscomm Digital Technology Ltd., which specializes in cloud-connected wearable devices, and EyeSmart Technology Ltd., which develops iris-scanning biometric technology. The investments signal the ongoing boom in biometric technology, and may reflect a developing trend of heavy multinational investment in this field, with Fujitsu having recently filed a number of biometrics-related US patents.