Qualcomm invests in nine Chinese startups
November 21, 2017 Category Belt and Road Forum, Weekly
U.S. chipmaker Qualcomm said it has invested in nine Chinese startups, including Beijing-based image recognition startup SenseTime and Chinese bike-sharing firm Mobike Technology Co, as it attempts to create new momentum in key markets. The move is also part of the company’s USD150 million strategic investment plan announced in 2014 for China’s technology market and came as it further expands into artificial intelligence (AI) and the internet of things (IoT) business.
Quinn Li, Qualcomm’s Vice President and global head of Qualcomm Ventures, said by providing financial and technical support for the nine companies, Qualcomm aims to help them make further breakthroughs in the fields of AI and IoT. Other startups being backed by Qualcomm include wireless technology provider CreatComm Technology, AI startup Kneron, unmanned convenience store operator Zero Element, virtual reality and augmented reality film and television content provider Magic AI and leading electronic
building blocks manufacturer and learning tools provider Microduino. Beijing Acsm Agriculture Consultant, Smart Management Technology Service Co, and Alo7, which offers immersive English learning environment for children, also received additional investment from Qualcomm. The company did not disclose the size of the investment.
Qualcomm also announced it had rejected an unsolicited take-over bid by Broadcom.
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