The investment will be made by via Qualcomm’s investment arm Qualcomm Ventures through the new ‘Strategic AI Venture Fund’
It will invest in startups building edge AI and technologies for industrial use, including in computing and telecom
Some of Qualcomm’s existing portfolio companies from India include Jio Platforms, MapmyIndia, ideaForge, and Shadowfax
American multinational Qualcomm plans to invest $150 Mn in India’s technology and AI startup ecosystem through its investment arm, Qualcomm Ventures. The investments will be made through its ‘Strategic AI Venture Fund’ in startups across all stages, with a particular focus on AI for automotive, IoT, robotics, and mobile.
The announcement was made on the sidelines of the India AI Impact Summit being held in New Delhi, which was attended by Qualcomm CEO Cristiano Amon.
The executive noted that AI is entering a new phase from software-led to now being integrated in everyday use scenarios, including smartphones, computers, cars and industrial machines. “This shift will reshape entire industries, and India’s startup ecosystem has a critical role to play as edge AI drives innovation across sectors,” Amon said.
Hence, the venture fund will focus on startups that are building edge AI and technologies with real-world industrial impact, including intelligent computing and wireless technology, given Qualcomm’s top positioning in the global telecom industry.
Apart from capital, Qualcomm will aid startup founders with its technology expertise, global industry network and support through the venture fund’s regional India team.
In the past, Qualcomm has invested across sectors, especially ones that align with its own core technologies like telecom and wireless. Some of its top portfolio companies include Jio Platforms, MapmyIndia, ideaForge, and Shadowfax.
Most recently, Qualcomm Ventures invested $8 Mn in AI-driven enterprise tech startup SpotDraft in its Series B extension round.
In the past, it has also partnered with the Ministry of Electronics and Information Technology to provide mentorship, technical training, and industry outreach to Indian startups through its Centre for Development of Advanced Computing (C-DAC).
The investment commitment came as IT Minister Ashwini Vashnav announced that Indian companies building AI technologies can expect to receive investments worth $200 Bn in the next two years. The ongoing AI Impact Summit has provided a significant boost to the budding sector, with investment firms and state governments committing funds at a significant pace.