The corporate venturing unit of chip maker Intel has backed US-based cloud computing provider Virtustream’s $10m round. Intel Capital joined other existing investors in the round, including venture capital funds Columbia Capital and Noro-Moseley Partners, and TD Funds, the mutual funds division of Canada-based investment firm TD Asset Management. These investors as well as venture firm Blue Lagoon Capital contributed to Virtustream’s series A round,  which was initially closed at $39.6m in May last year. Virtustream later attracted a further $9.8m of investment in February. Virtustream plans to invest the funding in a range of areas, from making its cloud provisioning platform xStream commercially available to consumers, to expanding its Cloud Advisory Services group, which consults its business customers on their cloud computing strategies.

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