New fund · AI & Deep Tech
Qualcomm Ventures launches $150M AI fund for India
By Startup Enthusiast ·
- Date
- Company
- Qualcomm Ventures
- What it does
- Corporate venture capital arm
- Kind
- New fund
- Amount
- $150 Mn
- Sector
- AI & Deep Tech
What they do
Qualcomm Ventures is the investment arm of chipmaker Qualcomm
What happened
It announced a $150 million fund dedicated to Indian AI and deeptech startups at the India AI Impact Summit
Why it matters
The fund targets edge AI, automotive, IoT, robotics, and wireless technology across all stages
The details
- Qualcomm Ventures announced a $150 million strategic AI venture fund for Indian startups at the India AI Impact Summit in New Delhi.
- The fund is dedicated to Indian AI and deeptech startups.
- It will focus on edge AI, automotive, IoT, robotics, mobile, intelligent computing, and wireless technology.
- The fund targets startups across all stages of growth.
- Qualcomm Ventures also invested an undisclosed amount in ToneTag, an offline digital payments startup using sound-wave communication.
- ToneTag will use the funds to launch edge AI-powered payment modules using sound waves.
- Qualcomm Ventures also invested $8 million in SpotDraft as part of a Series B extension.
The bigger picture
- Qualcomm CEO Cristiano Amon said AI is shifting from software-led to being integrated in everyday devices, and India's startup ecosystem is critical for edge AI.
- IT Minister Ashwini Vaishnav said Indian AI companies can expect $200 billion investments in the next two years.
- The India AI Impact Summit saw investment firms and state governments committing funds.
- Qualcomm Ventures previously partnered with MeitY and C-DAC for mentorship and training to Indian startups.
About the business
- Qualcomm Ventures is the corporate venture capital arm of Qualcomm, a global chipmaker.
- It invests in startups working on AI, deeptech, wireless technology, and related fields.
- Its portfolio includes Jio Platforms, MapmyIndia, ideaForge, and Shadowfax.
- Qualcomm offers portfolio companies technology expertise, global network, and regional India team support.
What happens next
- Qualcomm Ventures will deploy the fund across Indian AI and deeptech startups at all stages.
- It will provide portfolio companies with technology expertise, global network, and regional India team support.
The deal
- Type
- fund
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