Investments will be made through Qualcomm Ventures and will target startups at all stages, with a focus on artificial AI in automotive, IoT, robotics and mobile technologies. The announcement coincided with CEO Cristiano Amon’s participation in the India AI Impact Summit in New Delhi.
According to the company, the initiative aims to support the development of cutting-edge AI solutions, where intelligence is integrated directly into devices and systems such as smartphones, PCs, vehicles and industrial equipment.
“AI is entering a new phase where intelligence is embedded directly into the devices and systems that people rely on every day, from smartphones and PCs to cars, industrial machines, robots and more, delivering richer, more meaningful experiences. This shift will reshape entire industries, and India’s startup ecosystem has a critical role to play as cutting-edge AI drives innovation across sectors,” Cristiano Amon said in the press release.
Qualcomm has been investing in Indian startups since 2007 and claims to have backed more than 40 companies in the country. Existing and legacy portfolio companies include Jio, MapMyIndia, ideaForge, Shadowfax, Cavli Wireless, SpotDraft and Tonetag.
With the massive growth of India’s startup landscape and rapid advancements in AI, Qualcomm believes it sees a unique opportunity to help emerging companies create transformative, market-leading solutions.