The total investment received by Jio Platforms has reached Rs 117,588.45 crore (US$ 16.68 billion). Intel Capital has joined the list of marquee firms who have recently invested in the firm. Jio Platforms has more than 388 million subscribers. It has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.
The investment made by Intel Capital are focused on innovative companies that have portfolio in disruptive technology areas like cloud computing, artificial intelligence and 5G – opportunities where Jio is also innovating and investing for growth. Intel Capital is the investment arm of Intel Corporation, a leader in the semiconductor industry, shaping the data-centric future with computing and communications technology that is the foundation of global innovations. It has operated in India for more than two decades and currently employs thousands of employees there with state-of-the-art design facilities in Bengaluru and Hyderabad.
“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," Mr Mukesh Ambani, CMD of Reliance Industries said.
“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."
Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis.
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