In a major boost to India’s burgeoning tech scene, US chip giant Qualcomm announced on Wednesday a $150 million investment commitment aimed at supporting startups across all sectors. The initiative seeks to fuel innovation in the country’s rapidly expanding technology and startup ecosystem, with a particular emphasis on artificial intelligence (AI) for automotive, IoT, robotics, and mobile technologies.
Qualcomm’s President and CEO Cristiano Amon highlighted the strategic focus of this new AI venture fund. ‘We are investing in companies that are shaping the next chapter of AI in India,’ Amon stated. He emphasized that AI is entering a transformative phase where intelligence will be embedded directly into everyday devices and systems—from smartphones and PCs to cars, industrial machines, and robots—delivering richer, more meaningful user experiences.
This shift, Amon noted, will reshape entire industries. India’s startup ecosystem plays a pivotal role in driving AI innovation across diverse sectors, and Qualcomm’s fund underscores the company’s long-term dedication to the nation’s tech landscape. It aligns with Qualcomm’s global leadership in advancing cutting-edge AI solutions.
The fund aims to empower emerging companies to develop groundbreaking, market-leading solutions. Qualcomm will provide founders with access to its deep technical expertise and global industry networks to accelerate innovation. Since 2007, the company has backed over 40 Indian startups, including MapMyIndia for digital mapping and navigation, and ideaForge, a leader in drone technology.
This investment comes at a critical time as India positions itself as a global hub for tech innovation. By nurturing homegrown talent, Qualcomm is not only supporting individual ventures but also contributing to the broader economic growth through technological advancement.