Dubai: Intel Capital on Wednesday announced it has made $25 million in investments in 10 companies worldwide, including NeuString, a company based in Jebel Ali.
Intel Capital is the investment arm of the Silicon Valley-based computer chip maker.
NeuString, which was incorporated in 2008, makes software that analyses pricing for telecommunications companies. CEO Nikolaj Aertebjerg told Gulf News the company was currently working with operators in Europe, Africa and the Middle East and was looking to expand into Asia. Aertebjerg would not name regional clients.
Neither company would discuss how much the $25 million (Dh91.8 million) investment NeuString was receiving. The company said the investment will be used for sales and marketing as well as new product development.
Aertebjerg said his company's software allows operators to look at the mobile usage of roaming customers and can help them optimise their pricing by as much as 17 per cent.
"The name of the game is managing your margins," he said. "And the way to do that is optimise your price settings."
Aertebjerg said Intel approached them about investing in the company after seeing their software, which runs on an Intel-based platform.
The investment in NeuString follows five previous Intel Capital investments in the Middle East this year: two Jordanian-based companies (Jeeran and ShooFeeTV) and three UAE-based technology companies (Conservus International, Pulse Technologies, and Vertex Animation Studio.)
At least one local company, Sphere Technology, in which Intel invested, went out of business this year when another investor pulled out.
Feroz Sanaulla, Intel Capital's regional director for the Middle East, Turkey and Africa, said the risk involved in equity investments "is pretty high" but the returns were worth the risk. He said the Middle East is no riskier than other markets, and that the company took no shortcuts, performing due diligence and vetting all technology.
Sanaulla said that despite problems with the US economy and in the financial sector, Intel was still committing itself to fostering innovation.
"We still believe that investing in technology and innovation are the best path out of a recession."
Intel Capital makes equity investments in innovative technology start-ups and companies worldwide. Since 1991, Intel Capital said it has made more than $9.5 billion in investments in over 1,050 companies in 47 countries.
Other companies receiving an investment from Intel yesterday include US-based Joyent and Active Storage, Korea-based Crucialtec, Taiwan-based Gudeng Precision Industrial Co, Japan-based V-cube, and China-based Phoenix New Media.
The companies cover a wide range of technology from cloud computing to semiconductor equipment manufacturing.
