Corporate venture firm Intel Capital has led a $5m investment in Spain’s Intelligent Dialogue Systems (Indysys), along with participation from Barcelona and Madrid-based technology investor Inveready.
Commenting on the deal, Marcos Battisti, managing director Intel Capital Western Europe and Israel, said, “Intel Capital is pleased to have led the latest funding round in Indisys, our first investment in Spain. The company is at the forefront in the field of machine-human interactions, and we are very well placed to assist the company, by providing them with access to Intel Capital’s expertise and extensive network.”
“Indisys has a deep background in computational linguistics, artificial intelligence, cognitive science, and machine learning,” added Erik Jorgensen, Investment Director, Intel Capital. “We believe that natural language dialogue will play an increasingly important role in the way people communicate with their devices.”
A number of large banks, telecoms and retail companies have already experienced Indysys’ solutions and services. With customers and channel partners in Europe, Latin America, Oceania and the US, this new round of funding will enable the company to accelerate its international expansion, it saud,
Trained at the Universities of Seville, Edinburgh, Stanford and MIT, the founder and CEO of Indisys, Pilar Manchón, said, “With Intel Capital’s support, global network and expertise, our potential is growing exponentially and our international expansion will be significantly accelerated, starting with a establishing a presence in the US and further expanding our executive team in Europe. Intel’s investment is not only a great opportunity for Indisys, but it also highlights the growing potential of high tech companies in Spain.”
As part of the deal, Ken Morse, a serial entrepreneur based in Boston and Barcelona, will join the board of Indisys.
Since 1991, Intel Capital has invested more than $10.7b in over 1,257 companies in 53 countries. In 2011, Intel Capital invested $526min 158 investments with approximately 51 percent of funds invested outside the US and Canada.
Inveready is the first Spanish investment group to focus on early stage companies seeking seed capital between €1m and €4m. It manages funds totalling €35m with 100 shareholders including ACC10, ENISA, SODENA, Caixa Laietana, ICF and Roca Junyent Family Office, as well as private investors, business angels and Silicon Valley-based executives. Inveready’s portfolio includes companies such as Mas Móvil, PasswordBank Technologies, 3Scale Networks, Agile, Proretina Therapeutics, Veridentia, Adman Media and Yunait.
Copyright © 2012 AltAssets