Global chip major Qualcomm Incorporated plans to invest up to USD 150 million, or about Rs 1,360 crore, to support India's rapidly expanding technology and AI startup ecosystem, the company said on Wednesday.
Qualcomm Commits Up To $150 Mn For Strategic AI Venture Fund in India
Qualcomm has committed up to $150 million towards a strategic AI venture fund to support innovation in India
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The investments will be deployed through Qualcomm Ventures and will be made in startups across all stages, with a particular focus on AI for automotive, IoT, robotics, and mobile, the company said in a statement.
"Qualcomm Incorporated... announced its intention to invest up to USD 150 million to support India's rapidly expanding technology and AI startup ecosystem," the statement said.
The announcement coincides with Qualcomm CEO Cristiano Amon's participation in the India AI Impact Summit in New Delhi.
"Through our new Strategic AI Venture Fund, Qualcomm is investing in companies that are advancing the next chapter of AI in India," Amon said.
He said AI is entering a new phase where intelligence is built directly into devices and systems people depend on every day, from smartphones and PCs to cars, industrial machines, robots, and more, delivering richer and more meaningful experiences.
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"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.