New Delhi, February 18: American chip giant Qualcomm has announced a significant investment of $150 million to support various Indian startups. The company aims to promote the growing technology and startup ecosystem in India through this initiative. The focus will be on automotive AI, IoT, robotics, and mobile technology.
Qualcomm’s President and CEO, Cristiano Amon, stated, “Through our new strategic AI venture fund, Qualcomm is investing in companies that are advancing the next chapter of AI in India.”
Amon emphasized that artificial intelligence is entering a new phase where intelligence will be embedded directly into the devices and systems people rely on daily, including smartphones, PCs, cars, industrial machines, and robots. This will lead to richer and more meaningful experiences, transforming entire industries.
He also highlighted the crucial role of the startup ecosystem in fostering AI innovation across all sectors in India.
The company noted in its press release that this venture fund underscores Qualcomm’s long-term commitment to India’s technological landscape and aligns with its leadership in advancing cutting-edge AI globally.
Qualcomm aims to assist emerging companies in developing transformative, market-leading solutions by providing founders access to its extensive technical expertise and global industry network to accelerate innovation.
Since 2007, Qualcomm has been investing in India’s startup community, supporting over 40 companies, including MapmyIndia (a digital mapping and navigation solution provider) and IdeaForge (a leader in drone technology).
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