The Series B financing round that recently raised nearly $10 million for PrecisionHawk in September has yet another investor — Intel Capital. The move is part of $62 million in spending toward 16 companies that Intel has identified as developers of promising technologies, according to this Forbes report Tuesday.
Intel’s stake in PrecisionHawk is such that Intel Capital director Tammi Smorynski will serve as an adviser to PrecisionHawk’s Board of Directors. Another adviser and PrecisionHawk director is Ken Green, managing director of the Innovate Indiana Fund.
The Innovate Indiana Fund was the lead investor in PrecisionHawk’s Series A funding and took part in the Series B financing round. The Series B round was led by New York City-based Millennium Technology Value Partners and also included RedHat co-founder and Lulu.com founder Bob Young.
The Innovate Indiana Fund is managed by the Indiana University Research and Technology Corp. It provides early-stage capital to companies with an IU connection and assists in such areas as technology assessment, market analysis, planning, product development, sales strategy and customer acquisition.
Read more about PrecisionHawk’s latest investment activities here: