Intel Capital invests $65 million in Savaari, Perpetuuiti and 14 other startups, spanning 9 countries
Wednesday October 23, 2013,
3 min Read
Intel Capital, Intel’s global investment and M&A organization, today at their 14th Global Summit announced investment of $65 million across 16 technology companies including two from India, Perpetuuiti Technosoft and Savaari Car Rentals. Spanning nine countries, the new investments will help drive innovations in the cloud, datacenter, mobile technologies and consumer-related services. Announced at the 14th annual Intel Capital Global Summit, the new investments are part of Intel Capital’s mission of cultivating global innovation by providing entrepreneurs with the resources necessary to scale from startup to global corporation.
Savaari Car Rentals is an online car rental company, offering car rentals across 60 cities in India to both retail and corporate customers. Savaari had previously raised 5cr funding from Inventus Capital. Speaking on the announcement Gaurav Aggarwal, CEO and Founder, Savaari Car Rentals said, "It's great to have Intel onboard as investors. With this funding, we look forward to rapidly scale and expand our operations in India." Gaurav also shared that Saavari is operational in 60 cities across India including Tier-2 and tier-3 cities and have enabled over 2 crore kilometers of car rental till now.
Perpetuuiti Technosoft offers real-time visibility and availability management of business continuity planning/disaster recovery (BCP/DR) infrastructure. With customer like TCS, IBM, Vodafone and others, Perpetuuiti is fast growing as the preferred BCP partner among Indian businesses and is looking to expand globally as well. Rohil Sharma, Co-founder and CEO, Perpetuuiti TechnoSoft, who is also a serial entrepreneur shared that they have been able to scale rapidly since their inception in 2011 and have been cash positive doing business of over 22Cr. With this investment they plan to expand their reach outside India and take their BCP solution to Africa and USA.
Speaking on the recent investment, Sudheer Kuppam, Managing Director, Asia-Pacific and India, Intel Capital said, “We are excited to invest in Savaari as it seeks to use technology to organize the largely unorganized car rental market and bring more consumers online. This is an important element in our portfolio approach to develop the online ecosystem in India to engage First Time Buyers (FTBs). Perpetuuiti Technosoft is a rarity - a product oriented company that started in India but is expanding globally, that’s focused on leveraging its technology to provide enterprises with visibility into data availability and business continuity through a single click, mobile centric, fully automated platform.”
Other investments announced during the summit include - cloud consultancy CloudFX (Signapore); cloud storage software provider Cloudian (Japan/USA); community website and services platform CSDN (China); 3-D software developer DotProduct (USA); cloud file service Fileforce (Japan); interactive video platform Interlude (Israel); technology peripherals company Lintes Technologies (Taiwan); mobile news syndicator Mobiles Republic (France/USA); visual merchandising and analytics solutions Prism Skylabs(USA); hybrid storage provider Reduxio Systems(Israel); chip simulation acceleration Rocketick(Israel); semiconductor materials developer SBA Materials(USA); open source database solutions SkySQL(Finland); and wireless electricity developer WiTricity (USA).
Designed to create growth opportunities for Intel Capital portfolio companies through structured networking, the Intel Capital Global Summit includes a full agenda of keynote presentations, expert panels and more than 2,000 targeted meetings between portfolio company CEOs and key business executives. Portfolio companies attending past Global Summits have gone on to sign business deals with leading corporations across a wide range of industries.