Intel Capital just announced they are investing $22 million in 11 different startups, and that the venture capital arm of the tech company is on track to invest $500 million in startups this year.
The announcement was made at Intel Capital’s conference in San Diego. According to incoming Intel Capital president Wendell Brooks, the company is “on track to invest more than $500 million in startups in 2015.” The new startup investments also focus less on the e-commerce and mobile advertising companies that have dominated Silicon Valley’s 2015 early-stage funding, and instead focus on more diverse interests.
Some of the companies that received funding rounds include FreedomPop, which offers free mobile phone and data plans, Perfant Technology, which manufacturers panoramic cameras, what3words, which creates address and geolocation services for remote areas, and KMLabs, which makes advanced laser technology. The event also included product demos from companies already in Intel’s portfolio, such as Avogy’s batteries that simultaneously charge laptops and phones, and a Braille printer from Braigo Labs (which was founded by a 13-year-old).
In 2014, Intel Capital spent approximately $359 million on startups.
Disclosure: The author of this article is moderating a panel at the Intel Capital Global Summit on Wednesday.