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Intel Capital becomes 12th firm to invest in Jio Platforms in less than 3 months – Times Now

Intel Capital becomes 12th firm to invest in Jio Platforms in less than 3 months&  | &nbspPhoto Credit:&nbspBCCL

Key Highlights

  • Intel Capital to invest Rs 1,894 crore in Jio Platform
  • Intel Capital to pick 0.39 per cent stake
  • This marks the 12th investment by global investors in Jio Platforms

Mumbai: Global marquee investors continue to queue up for a pie of Jio platform, the technology arm of Reliance Industries. The latest one being the global chip manufacturer Intel backed, Intel Capital which has invested Rs 1894 crore for a 0.39 per cent stake.

Intel Capital invests in innovations backed companies in disruptive sectors within technology including AI and 5G. Intel Capital joins the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount in RIL’s digital arm to Rs 1.175 lakh crore.

Mukesh Ambani said, “We are extremely delighted to deepen our ties with technology leaders that embody our vision of transforming India into a leading Digital Society in the world. Intel is a true industry leader, working towards creating world-changing technology and innovations. Intel Capital has an outstanding record of being a valuable partner for leading technology companies globally. We are therefore excited to work together with Intel to advance India’s capabilities in cutting-edge technologies that will empower all sectors of our economy and improve the quality of life of 1.3 billion Indians.” 

Wendell Brooks, Intel Capital President, said, “Jio Platforms’ focus on applying its impressive engineering capabilities to bring the power of low-cost digital services to India aligns with Intel’s purpose of delivering breakthrough technology that enriches lives. We believe digital access and data can transform business and society for the better. Through this investment, we are excited to help fuel digital transformation in India, where Intel maintains an important presence.”