Intel Capital backs low cost Braille-printer startup founded by Indian-origin 13 year old
Intel Capital has announced that it has made new investments worth $62 million in 16 technology startups, including two startups founded by Indian-origin entrepreneurs. The company made the announcements at Intel Capital's 15th annual global summit in California.
"Intel Capital invests in the technology continuum that runs from wearables and the Internet of Things to Big Data analytics, including silicon, smart devices, PCs, cloud and data centres," said Arvind Sodhani, president of Intel Capital. "We are focused on helping innovative companies develop across this technology ecosystem, and we expect to invest a total of $355 million this year."
Here is quick look at the two startups founded by Indian origin entrepreneurs that received funding from Intel.
Braigo Labs Inc.: Based out of California, Braigo was founded by Shubham Banerjee, a 13-year-old school student. The startup has devised a product called Braigo v1.0, a Lego Braille printer that reduces the price of a printer for the blind from more than $2,000 to $350. It is an open source-based do it-yourself (DIY) braille printer, which can be used in education as well as for teaching and home-use purposes.
Check the video of the product here
NetSpeed Systems Inc.: Based out of California, NetSpeed was co-founded by Sundari Mitra and Sailesh Kumar. Mitra had earlier founded Prism Circuits Inc. which was acquired by MoSyc, while Kumar had worked at Huawei prior to setting up NetSpeed.
NetSpeed offers a system-on-chip (SoC) design platform and advanced on-chip network solutions. Its products make designing and developing chips simpler and less expensive. This is the company's Series B funding. US-based VC fund Walden-Riverwood Ventures also participated in this round. NetSpeed will use the funds to expand and support its rapidly growing community and user base worldwide, and to further invest in product development for its system-on-chip (SoC) design platform and advanced on-chip network intellectual property (IP) cores.
Other companies which secured funding from Intel Capital include Avegant, Eyefluence, AnDAPT, Audyssey, Incoming Media, Screenovate Technologies, Thundersoft, Reno Sub-systems, Gigya, PilotTV, PrecisionHawk, Prelert and Stratoscale.