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Intel Backs Three Startups From The Middle East: Nymgo, Jeeran, ShooFeeTV

October 27th, 2010 10:32 admin Leave a comment Go to comments

Intel’s investment arm, Intel Capital, announced three new investments at the World Economic Forum on the Middle East and North Africa today.

The three startups that have received fresh capital from the investment organization are UK/Lebanon based Nymgo (which delivers cheap VoIP telephony services), Jordan-based Jeeran (social networking site) and ShooFeeTV (which operates a Web-based entertainment guide).

The size of the three investments were not disclosed, but I understand the investment comes from Intel’s $50 million Middle East and Turkey Fund.

For Jeeran and ShooFeeTV, this is actually the second financial boost provided by Intel Capital – both were originally funded in May 2009.

The investment in Nymgo, means Intel Capital firm has now expanded its portfolio in the ME region to a total of eight companies.

Nymgo launched in December 2008 and offers low-cost VoIP calling services. With over two million downloads, Nymgo says it serves customers in over 200 countries worldwide. Since its creation, Nymgo claims to have served over 300 million minutes of international calls.

With Intel’s help, Nymgo says it intends to accelerate infrastructure deployment, operations enhancement and global marketing.

Source: Intel Backs Three Startups From The Middle East: Nymgo, Jeeran, ShooFeeTV

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