Qualcomm Ventures, the investment arm of American chipmaker Qualcomm Inc, aims to back Indian startups in the healthcare, mobility-tech, and financial services space among others under its recently-launched artificial intelligence or AI fund, the firm’s senior executives said.
Qualcomm Ventures said in November it has set up a USD 100 million AI fund to invest in startups working on AI. Since then the company has been talking to founders operating across various sectors.
“We have been investing in India for the past 10 years. To start off, early days was mostly around other ecosystems but over time we have expanded into IoT (internet of things). We are very bullish on the AI space in India,” said Quinn Li, senior vice-president and global head of Qualcomm Ventures, who oversees a $1 billion venture portfolio of more than 150 companies across seven regions, including China, Israel and the US.
Qualcomm Ventures has backed startups such as healthcare service provider Portea Medical, agri-tech startup Ninjacart, and content platform YourStory.
Source: Live Mint