Qualcomm Commits to Invest $40 Million into Several Promising Chinese Companies
SAN DIEGO, Dec. 11, 2014 /PRNewswire/ -- Qualcomm Incorporated (NASDAQ: QCOM) today announced that it and its subsidiaries have committed to invest an aggregate of $40M into four Chinese companies and the China Walden Venture Investments, L.P. fund, which is primarily focused on investing in semiconductor or semiconductor-related companies with business in China. Qualcomm is pleased to announce that 7Invensun, an eye-tracking solution provider; Chukong Technologies, a mobile entertainment platform provider; inPlug, a smart home device/platform solution provider; Unisound, a voice recognition and processing technology provider; and the China Walden Ventures Investment are all expected to be funded through the Company's $150 Million strategic China venture fund that was announced earlier this year.
The selected companies were strategically chosen for their innovative work on mobile and wireless technologies:
- 7Invensun focuses on research and development of eye-tracking technology, widely applied in the field of medical & health, virtual reality and movie entertainment, providing a new generation of human-machine interaction experience for enterprises and individuals.
- Chukong Technologies operates an innovative mobile entertainment platform, offering a full suite of solutions and services to enable developers worldwide to efficiently develop, publish and monetize content and providing a highly engaging mobile entertainment experience to users.
- inPlug is a smart home platform solution provider, whose key technology is centered on network virtualization utilizing Software Defined Network, with which comprehensive smart control on home network can be realized. Its current 'Light Smart Home' devices series includes smart plug, smart switch, and infrared control sticker.
- Unisound has launched a series of voice recognition service middleware and platforms, which have been widely deployed in mobile Internet, smart appliance, wearables, on-car navigation, healthcare, education, and call centers by providing professional voice recognition service to enterprises and consumer users.
- Walden International is one of the pioneers in venture investing in China with more than 25 years of experience investing in companies across semiconductors，Internet and digital media, software and IT services, and emerging technologies.
"Qualcomm is passionate about innovation and committed to helping advance the Chinese wireless industry," said Nagraj Kashyap, senior vice president of Qualcomm Ventures. "With a focus on semiconductors, mobile application enablers, smart home and healthcare, this group of startup companies closely complements existing products and services from Qualcomm Incorporated's subsidiaries. We look forward to working with these innovative companies to provide financial, marketing, technology and business support to help propel them forward in the competitive wireless ecosystem."
Qualcomm Ventures, the investment arm of Qualcomm, was formalized in 2000 and currently has a portfolio of more than 120 active companies across the globe. Qualcomm Ventures also invests in seed stage companies through its QPrize™ Mobile Internet Startup Competition which evaluates and awards seed funding for promising early stage Chinese entrepreneurs.
For more information please visit www.qualcommventures.com.
About Qualcomm Incorporated
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm's licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm's engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit Qualcomm's website, OnQ blog, Twitter and Facebook pages.
QPrize is a trademark of Qualcomm Incorporated, registered in the United States and other countries.
Qualcomm Contacts:
Tina Asmar, Corporate Communications
Phone: 1-858-845-5959
Email: [email protected]
Warren Kneeshaw, Investor Relations
Phone: 1-858-658-4813
Email: [email protected]
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SOURCE Qualcomm Incorporated
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