Intel Capital places $70 million in new investments with startups

Intel Capital, the venture capital and investment arm of semiconductor giant Intel, on Tuesday used its annual global summit to announce more than $70 million in new funding for tech startups — an amount that more than doubles Intel Capital’s investments so far this year.

At the Intel Capital Global Summit conference in Palm Desert, California, 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. Intel Capital said that with Tuesday’s investment announcements, it has now invested more than $115 million in startups in 2018.

“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.

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.

Along with its 12 new funding placements, Intel Capital also said that since 2015, it has invested more than $125 million in startups that are run by women or underrepresented minorities through its Intel Capital Diversity Initiative.