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Intel Capital Invests Rs 1,894.50 Crore in Reliance Jio Platforms: What The Two Companies Said

Intel Capital Invests Rs 1,894.50 Crore in Reliance Jio Platforms: What The Two Companies Said

The investment by Intel helps Reliance Jio’s Digital India vision for 1.3 billion people and businesses across the country, including small businesses, micro-businesses and farmers.

  • News18.com
  • Last Updated: July 3, 2020, 6:10 PM IST
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Reliance Industries has confirmed that Intel Capital has made an investment of Rs 1,894.50 crore in Jio Platforms. This investment translates into a 0.39% equity stake in Jio Platforms, with an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. This now takes the total investment in Jio Platforms to Rs 117,588.45 crore, joining investments made by Facebook, Silver Lake Partners, Vista Equity Partners, General Atlantic, KKR, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton and PIF. At this time, Intel Capital has strategic global investments in 5G, cloud computing and artificial intelligence technology areas.

“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,” says Mukesh Ambani, Chairman and Managing Director of Reliance Industries.

The investment by Intel helps Reliance Jio’s Digital India vision for 1.3 billion people and businesses across the country, including small businesses, micro-businesses and farmers. The investment by Intel Capital is recognition of the world-class digital platform that Jio has built, powered by leading technologies, such as Broadband connectivity, Smart Devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence, Internet of Things, Augmented and Mixed Reality and Blockchain.

“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,” says Wendell Brooks, Intel Capital President.

Intel Capital has investments to the tune of $466 million invested in companies and startups working on Artificial Intelligence (AI) products, Autonomous mobility, software and security, 5G, Internet of Things, semiconductors and next gen computing. Intel Capital’s investments include Astera Labs, Sigfox, Voss and Netronome in the 5G space, Element AI, Horizon Robotics and Paperspace in the AI domain, Precision Hawk, Volocopter and Peloton in the autonomous mobility space as well as Airy 3D, Cloudpick and Reconova in the Internet of Things domain.

This makes it the 12th investment in Jio Platforms over the past few weeks, a list which includes Facebook, Silver Lake Partners, Vista Equity Partners, General Atlantic, KKR, Mubadala, Abu Dhabi Investment Authority, TPG, L Catterton and PIF.

The investment by Intel helps Reliance Jio’s Digital India vision for 1.3 billion people and businesses across the country, including small businesses, micro-businesses and farmers.

Disclaimer:News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited that also owns Reliance Jio.

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