Reliance Jio gets ₹1894.5 crore from Intel Capital – the 12th investment in 11 weeks
Intel Capitalgets a 0.39% stake in Jio.
- With this, Jio has raised a total of ₹ 117,588.45 crore from the likes of Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and Saudi PIF.
- The deal with the technology leader is set to help Reliance Jio push its digital reach.
AdvertisementReliance Jio has announced its 12th investment – ₹1894.5 crore ($253.5 million) from Intel Capital – the investment arm of Intel. Intel Capital gets a 0.39% stake in Jio.
With this, Jio has raised a total of ₹ 117,588.45 crore so far from the likes of Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and Saudi PIF since April 22, 2020 The latest deal is Reliance’s 12th investment in 11 weeks.
The deal with the technology leader is set to help Reliance Jio push its digital reach. "Intel Capital invests globally in innovative companies with a focus on disruptive technology areas like cloud computing, artificial intelligence and 5G – opportunities where Jio is also innovating and investing for growth," said the company's statement.
“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,” said Reliance Chairman
Intel Capital has been investing in startups for a long time. Globally, Intel Capital invests $300 million to $500 million every year. In May 2020, the company had invested $132 million in 11 global startups.
In India, Intel Capital has invested in the likes of Snapdeal, Yatra, Hungama, IndiaMart among others.
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