Qualcomm has introduced its intention to take a position as much as $a hundred and fifty million in Indian startup firms throughout all phases. Qualcomm Ventures will advise and direct Qualcomm’s actions with respect to those investments.
Qualcomm has been investing in Indian startups since 2007 and there are greater than 20 Indian corporations as a part of its world portfolio. Sectors of funding fluctuate throughout the cell ecosystem and embody hardware, software program platforms, e-commerce, healthcare, location primarily based companies and retail expertise. Initiatives such because the QPrize competitors, a world seed funding competitors, in addition to an early stage fund, are a part of the workforce’s efforts in encouraging early stage entrepreneurs.
Portfolio firms embrace Yourstory, a media tech platform for entrepreneurs; Portea Medical, an in-dwelling healthcare supplier; and MapMyIndia, a supplier of digital map, navigation, and monitoring services.
“Since Qualcomm’s first India funding in 2007 and with full-fledged presence beginning in early 2008, we proceed to speculate broadly to strengthen India’s total economic system,” mentioned Nagraj Kashyap, senior vice chairman of Qualcomm Integrated. “We’re dedicated to offering these corporations with the assist wanted to assist propel them ahead within the aggressive Indian area. We’re excited in regards to the new prospects in India and sit up for rising our portfolio.”